Acutus Medical, Inc. announced as previously reported, on July 2, 2019, the company entered into the License and Distribution Agreement with Biotronik SE & Co. KG (Biotronik) and VascoMed GmbH (the LDA), pursuant to which the company acquired certain assets and licensing rights (including distribution rights) related to certain products, including the AcQBlate Force Ablation Catheters. Further description of the LDA is included in the company?s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the SEC) on July 15, 2020 (the S-1), which description is incorporated by reference herein.

Further, as previously reported, on May 11, 2020, the company entered into the Global Alliance for Acutus Product Distribution Agreement (as amended by the 1 st Amendment to the Global Alliance for Acutus Product Distribution Agreement, dated June 9, 2021 and the 2 nd Amendment to the Global Alliance for Acutus Product Distribution Agreement, dated April 25, 2022) and the Global Alliance for Biotronik Product Distribution Agreement (collectively, the ?Bi-Lateral Distribution Agreements?), in each case with Biotronik. Further descriptions of the Bi-Lateral Distribution Agreements are included in the Company?s S-1, which descriptions are incorporated by reference herein. On February 2, 2024, Biotronik sent a Notice of Rescission and Termination (the Notice) to the company.

The Notice provides that Biotronik rescinds and terminates the Bi-Lateral Distribution Agreements, effective immediately, based on the company?s alleged repudiation of its contractual obligations under the Bi-Lateral Distribution Agreements, and alleges damages in an amount to be quantified by Biotronik. Biotronik has separately alleged that the company breached its contractual obligations to Biotronik under the LDA as a result of the wind down of its mapping and ablation businesses and alleges further damages.