Cormedix SEC Filings

Elizabeth Hurlburt, Chief Operating Officer of CorMedix Inc. (CRMD), was granted 69,686 restricted stock units on 08/29/2025. Each unit represents one share and the grant price is listed as $0. The RSUs vested one-quarter on the grant date and vest in three additional equal annual installments, subject to continued employment. Following the reported transaction, Ms. Hurlburt beneficially owned 185,414 shares. The Form 4 was signed by Ms. Hurlburt on 09/03/2025.

CorMedix Inc. (CRMD) Chief Legal Officer Beth Zelnick Kaufman received a grant of 69,686 restricted stock units on 08/29/2025, reported on Form 4. Each unit converts to one share and was granted at no cash price ($0). Following the grant, Ms. Zelnick Kaufman beneficially owned 189,298 shares. The restricted stock units vested 1/4 immediately on the grant date and the remainder in three equal annual installments on each anniversary, subject to continued employment. The Form 4 was signed and dated 09/03/2025.

Susan Blum, Chief Financial Officer of CorMedix Inc. (CRMD), was granted 69,686 restricted stock units (RSUs) on 08/29/2025. Each RSU converts to one share of common stock and the award was recorded at a $0 price, indicating a service-based grant rather than a purchase. The RSUs vest in four equal installments on the first four anniversaries of the grant date, contingent on continued employment. Following the grant, Ms. Blum beneficially owns 69,686 shares directly as reported on the Form 4. The filing is signed by Ms. Blum on 09/03/2025 and lists her role as Chief Financial Officer.

CorMedix Inc. (CRMD) has filed a Form 144 reporting a proposed sale of 300,000 common shares through Merrill Lynch on 09/03/2025 on the NASDAQ, with an aggregate market value of $4,350,000.00. The filing shows the shares were acquired and are to be paid for on 09/03/2025 under a Stock Plan Activity from the issuer. The company reports 74,648,992 shares outstanding, so the proposed sale represents approximately 0.40% of outstanding common stock. The filer indicates there were no shares sold by the same person in the past three months and includes the standard certification that no material nonpublic information is known by the seller.

CorMedix Inc. filed an 8-K that includes a press release dated September 2, 2025 and is signed by CEO Joseph Todisco. The filing discloses contingent payment obligations tied to potential FDA-approved labeling: $20 million if labeling includes candida, $2.5 million if labeling includes aspergillus, and $2.5 million if labeling includes pneumocystis. Portions of an exhibit have been omitted pursuant to Item 601(b)(2)(ii) of Regulation S-K. The document also contains contact information and standard exchange-act checkbox items, but the text provided here appears truncated and does not include the full press release or additional financial detail.

CorMedix Inc. completed its previously announced private placement of $150,000,000 aggregate principal amount of convertible senior notes due 2030, issued in reliance on Section 4(a)(2) of the Securities Act. The company entered into an indenture with U.S. Bank Trust Company, National Association, as trustee, and the indenture and form of note are filed as Exhibits 4.1 and 4.2.

The notes bear a stated rate reflected in the form of the notes as 4.00% and have an initial conversion rate of 74.2515 shares per $1,000 principal amount (approximately $13.47 per share implied by that rate). The notes and any common stock issuable upon conversion have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption.

On 8 Aug 2025, individual investor Shaibatalhamd Aymen Abdalkader filed Amendment No. 2 to Schedule 13G, revealing a passive ownership position in CorMedix Inc. (CRMD).

• Shares owned: 4,645,630 common shares.
• Ownership percentage: 6.22 % of CorMedix’s outstanding stock, exceeding the 5 % disclosure threshold.
• Control rights: Sole voting and sole dispositive power over all reported shares; no shared control.
• Intent: Filer certifies the stake is not intended to influence or change control of the issuer.

No purchase prices, transaction dates, or financing details were disclosed. While the filing signals meaningful individual interest in CRMD, it conveys a passive stance and does not, by itself, indicate imminent strategic or governance changes.

CorMedix (CRMD) delivered its first profitable quarter since commercial launch of DefenCath. Q2-25 net sales surged to $39.7 m from $0.8 m a year ago, lifting H1 revenue to $78.8 m. Gross margin was 95% and operating income reached $19.5 m versus a $15.3 m loss in Q2-24; H1 operating income was $39.7 m. Net income came in at $19.8 m (-dil. EPS $0.28) for the quarter and $40.5 m for six months, despite a $2.0 m negative adjustment to Medicaid rebate estimates.

Liquidity strengthened sharply: cash and equivalents rose to $159.3 m and short-term investments to $31.4 m, driven by a $82.4 m June equity offering, $6.8 m ATM sales and $1.5 m option exercises. Stockholders’ equity climbed to $220.6 m from $84.7 m year-end.

Customer concentration remains high (Customer A 59% of Q2 sales; 45% of receivables). Gross-to-net deductions totalled $41.3 m YTD (52% of gross sales).

Strategic moves: • August 2025 agreement to acquire Melinta Therapeutics for $260 m cash + $40 m shares; closing expected Sept-25. • Parallel $150 m 4.0% senior convertible notes due 2030 to partly fund the deal. • OBBBA tax law change (July-25) expected to lower future cash taxes.

Balance sheet shows no long-term debt yet; pro-forma leverage will rise post-note issuance. Litigation (securities & derivative) continues, discovery stage.