Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported) December
18, 2007
Interpharm
Holdings, Inc.
(Exact
name of Registrant as specified in charter)
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Delaware
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0-22710
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13-3673965
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(State
or other jurisdic-
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(Commission
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(IRS
Employer
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tion
of incorporation)
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File
Number)
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Identification
No.)
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75
Adams Avenue, Hauppauge, New York
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11788
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (631)
952 0214
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
5.02 Election
of Director.
On
December 18, 2007, Dr. Perry Sutaria was appointed to the Interpharm Holdings,
Inc. (the “Company”) Board of Directors. Dr. Perry Sutaria, by himself and
through P&K Holdings I, LLC, owns and/or controls approximately 44 million
shares of our common stock owned by him and his brother , Raj Sutaria, and
sister, Mona Rametra.
As
reported in the Company’s Annual Report on Form 10-K for the fiscal year ended
June 30, 2007, in connection with the Company’s $8 million financing (the
“Financing”) closed on November 7 and 14, 2007, the Company entered into a
Waiver and Consent Agreement (the “Waiver”) with Tullis Dickerson Capital Focus
III, L.P. (“TD III”), Aisling Capital I, L.P. (“Aisling”) and the parties to the
Financing. Pursuant to the Waiver, Dr. Perry Sutaria and P&K Holdings I,
LLC, among others, agreed to, and did give a voting proxy to a committee
comprised of Dr. Perry Sutaria and a representative from each of TD III and
Aisling to vote their shares:
1.
For
the election of directors; and
2.
With
respect to any changes in the Company by-laws.
In
connection with the Waiver, it was agreed among the Board of Directors and
parties to the Financing that Dr. Perry Sutaria would be added as a member
of
the Company’s Board of Directors.
Dr.
Perry
Sutaria received a B.S. Degree from Cornell University in 1988 and an M.D.
from
Cornell in 1992. Dr. Sutaria is a practicing Urologist with Morristown Urology
Associates.
Dr.
Perry
Sutaria is the son of Dr. Maganlal K. Sutaria, the Chairman of the Company’s
Board of Directors and is the brother of Raj Sutaria, a Company Executive Vice
President. He is also a member of Sutaria Realty, LLC from which we lease our
facility and offices at 75 Adams Avenue in Hauppauge, New York pursuant to
a
non-cancellable lease expiring in October, 2019. The current annual lease
payments are $660,000.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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INTERPHARM
HOLDINGS, INC.
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December
24, 2007
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By:
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/s/
Cameron Reid
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Cameron
Reid
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Chief
Executive Officer
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