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Guilford, CT—Thomas Teisseyre, the Chief Operating Officer of Hyperfine, Inc. (NASDAQ:HYPR), recently sold 3,237 shares of Class A Common Stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $1.20 each, amounting to a total transaction value of $3,884. According to InvestingPro data, HYPR has shown strong momentum with a 30% gain year-to-date, while maintaining a healthy balance sheet with more cash than debt.
The transaction, dated February 18, 2025, was executed to cover tax withholding obligations related to the vesting of restricted stock units (RSUs) granted in March and April 2022. Following this sale, Teisseyre retains ownership of 84,990 shares of Hyperfine stock. With the company’s next earnings report due on March 19, InvestingPro subscribers can access 7 additional key insights and a comprehensive Pro Research Report, part of the platform’s coverage of 1,400+ US stocks.
This move is part of a "sell to cover" provision included in the RSU agreement, which allows the executive to sell a portion of the shares to meet tax obligations. Hyperfine, based in Guilford, Connecticut, specializes in electromedical and electrotherapeutic apparatus. The company maintains strong liquidity with a current ratio of 6.44, though analysts do not expect profitability this year.
In other recent news, Hyperfine Inc. has been involved in several significant developments. The company announced a $6 million registered direct offering of its Class A common stock and warrants, with each priced at $1.33. The offering, managed by Lake Street Capital Markets, is set to close on February 12, 2025. The proceeds from this offering are expected to be used for working capital and general corporate purposes.
Additionally, Hyperfine also made headlines with the announcement of a workforce reduction. The company disclosed that it would be terminating about 14% of its global workforce, primarily impacting technical staff. This move is part of a restructuring effort aimed at creating a more efficient structure as the company transitions from a development to a commercial stage.
These recent developments suggest that Hyperfine is making strategic moves to strengthen its operations and financial position. As these events unfold, investors and analysts will likely continue to monitor the company’s financial health and the execution of its strategic initiatives.
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