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TMCNet:  MELA SCIENCES, INC. /NY FILES (8-K/A) Disclosing Termination of a Material Definitive Agreement

[April 02, 2014]

MELA SCIENCES, INC. /NY FILES (8-K/A) Disclosing Termination of a Material Definitive Agreement

(Edgar Glimpses Via Acquire Media NewsEdge) Item 1.02 - Termination of a Material Definitive Agreement On January 31, 2014, MELA Sciences, Inc. (the "Company") entered into an agreement (the "Agreement") granting to Broadfin Capital, LLC ("Broadfin"), in connection with its purchase of the Company's Series A Convertible Preferred Stock (the "Preferred Stock") and warrants to purchase common stock, the right to designate one director to the Company's Board of Directors, so as long as it retains 30% of its investment in the Preferred Stock (or the shares of common stock underlying the Preferred Stock) or holds any warrants. On March 31, 2014, the Company and Broadfin terminated this Agreement. Broadfin advised the Company that its decision to terminate the Agreement was made following the appointment of an acceptable designee to the Board of Directors and their satisfaction with the composition of the Board including their designee.


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