<SEC-DOCUMENT>0001816307-21-000003.txt : 20210310
<SEC-HEADER>0001816307-21-000003.hdr.sgml : 20210310
<ACCEPTANCE-DATETIME>20210310111945
ACCESSION NUMBER:		0001816307-21-000003
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210310
DATE AS OF CHANGE:		20210310

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELCATH SYSTEMS, INC.
		CENTRAL INDEX KEY:			0000872912
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				061245881
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-60851
		FILM NUMBER:		21728702

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		SUITE 22C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 489-2100

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		SUITE 22C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELCATH SYSTEMS INC
		DATE OF NAME CHANGE:	19990607

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SILVERARC CAPITAL MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0001816307
		IRS NUMBER:				834542901
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		20 PARK PLAZA
		STREET 2:		4TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617.284.6952

	MAIL ADDRESS:	
		STREET 1:		20 PARK PLAZA
		STREET 2:		4TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>form13gdchtsilverarc.htm
<TEXT>
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<P STYLE="font: 10pt Times New Roman,serif; text-align: center; margin-right: 0; margin-left: 0"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman,serif; text-align: center; margin-right: 0; margin-left: 0"><B>SCHEDULE 13G</B></P>

<P STYLE="font: 10pt Times New Roman,serif; text-align: center; margin-right: 0; margin-left: 0"><B>Under the Securities Exchange
Act of 1934<BR>
(Amendment No. __)*</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid"><B>Delcath Systems,
Inc.</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 11.25pt; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 11.25pt; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 10pt Times New Roman,serif; text-align: center; margin-right: 0; margin-left: 0; border-bottom: black 0.75pt solid"><B>24661P807</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 11.25pt; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid"><B>December 31, 2020</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 11.25pt; text-align: center">(Date of Event which Requires Filing of this
Statement)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin-right: 0; margin-left: 0">Check the appropriate box to designate the rule pursuant
to which this Schedule is filed:<BR>
<FONT STYLE="font-family: MS Mincho">&#9745;</FONT>&nbsp;&nbsp;Rule 13d-1(b)<BR>
<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;Rule 13d-1(c)<BR>
<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;Rule 13d-1(d)</P>

<P STYLE="font: 10pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0"><SUP>*</SUP> The remainder of
this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0">The information required on the
remainder of this cover page shall not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange
Act of 1934 (&quot;Act&quot;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP No. 24661P807</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 2 of 10</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">NAMES OF REPORTING PERSONS<BR>
<BR>
<B>SilverArc Capital Management, LLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<BR>
(see instructions)<BR>
(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt"><BR>
(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION<BR>
&nbsp;<BR>
<B>Delaware</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">NUMBER OF <BR>
SHARES <BR>
BENEFICIALLY<BR>
 OWNED BY <BR>
EACH <BR>
REPORTING <BR>
PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SOLE VOTING POWER<BR>
&nbsp;<BR>
<B>0</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SHARED VOTING POWER<BR>
&nbsp;<BR>
<B>351,616</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">7.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SOLE DISPOSITIVE POWER<BR>
&nbsp;<BR>
<B>0</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">8.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SHARED DISPOSITIVE POWER<BR>
&nbsp;<BR>
<B>351,616</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON <BR>
<BR>
<B>351,616</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES<BR>
(see instructions)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) <BR>
<BR>
<B>5.9%</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">TYPE OF REPORTING PERSON (see instructions) <BR>
<BR>
<B>IA</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP No. 24661P807</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 3 of 10</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">NAMES OF REPORTING PERSONS<BR>
<BR>
<B>Devesh Gandhi</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<BR>
(see instructions)<BR>
(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt"><BR>
(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION<BR>
&nbsp;<BR>
<B>United States</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">NUMBER OF <BR>
SHARES <BR>
BENEFICIALLY <BR>
OWNED BY <BR>
EACH <BR>
REPORTING <BR>
PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SOLE VOTING POWER<BR>
&nbsp;<BR>
<B>0</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SHARED VOTING POWER<BR>
&nbsp;<BR>
<B>351,616</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">7.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SOLE DISPOSITIVE POWER<BR>
&nbsp;<BR>
<B>0</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">8.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SHARED DISPOSITIVE POWER<BR>
&nbsp;<BR>
<B>351,616</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON <BR>
<BR>
<B>351,616</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES<BR>
(see instructions)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) <BR>
<BR>
<B>5.9%</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">TYPE OF REPORTING PERSON (see instructions) <BR>
<BR>
<B>IN</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 4 of 10</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify"><B>Item 1.</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Name of Issuer</FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify"><B>Delcath Systems, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Address of Issuer&rsquo;s Principal
Executive Offices</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt 0.5in; text-align: justify"><B>1633 Broadway, Suite 22C, New York,
New York 10019</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify"><B>Item 2.</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Name of Person Filing</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify"><B>SilverArc Capital Management, LLC (&ldquo;SilverArc&rdquo;)
and Devesh Gandhi (&ldquo;Gandhi&rdquo; and together with SilverArc, the &ldquo;Reporting Persons&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Address of the Principal Office
or, if none, residence</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify"><B>20 Park Plaza, 4th Floor</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify"><B>Boston, MA 02116</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Citizenship</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify"><B>SilverArc is a Delaware limited liability
company. Gandhi is a citizen of the United States.</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Title of Class of Securities</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP Number</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify"><B>24661P807</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt 0.5in">&nbsp;</P>


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    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0"><B>Item 3. If this statement
is filed pursuant to Sec. 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt">Broker
or dealer registered under section 15 of the Act (15 U.S.D. 78o):</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt">Bank
as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt">Insurance
company as de<FONT STYLE="background-color: white">fined in section 3(a)(19) of the Act (15 U.S.C. 78c);</FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt; background-color: white">Investment
company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9745;</FONT> <FONT STYLE="font-size: 10pt; background-color: white">An
investment adviser in accordance with Sec. 240.13d-1(b)(1)(ii)(E);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt; background-color: white">An
employee benefit plan or endowment fund in accordance with Sec. 240.13d-1(b)(1)(ii)(F);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9745;</FONT> <FONT STYLE="font-size: 10pt; background-color: white">A
parent holding company or control person in accordance with Sec. 240.13d-1(b)(1)(ii)(G);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(h)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt; background-color: white">A
savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt; background-color: white">A
church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act
of 1940 (15 U.S.C. 80a-3);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(j)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt">A
non-U.S. institution in accordance with Sec. 240.13d-1(b)(1)(ii)(J);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(k)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT> <FONT STYLE="font-size: 10pt">Group,
in accordance with Sec. 240.13d-1(b)(1)(ii)(J).&nbsp;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0"><B>Item 4. Ownership</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify">This statement is being filed with respect to
an aggregate of 316,645 shares of Common Stock, resulting in beneficial ownership of Common Stock as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">SilverArc </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amount Beneficially owned: 351,616.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Percent of Class: 5.9%.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Number of shares to which the
person has: </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Sole power to vote or to direct
the vote: 0.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Shared power to vote or to direct
the vote: 351,616.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Sole power to dispose or to direct
the disposition of: 0.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Shared power to dispose or to
direct the disposition of: 351,616.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Gandhi</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amount Beneficially owned: 351,616.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Percent of Class: 5.9%.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Number of shares to which the
person has: </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Sole power to vote or to direct
the vote: 0.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Shared power to vote or to direct
the vote: 351,616.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(vii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Sole power to dispose or to direct
the disposition of: 0.</FONT></TD></TR></TABLE>


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<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP No. 24661P807</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 6 of 10</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(viii)Shared</TD><TD STYLE="text-align: justify">power to dispose or to direct the disposition of: 351,616.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 5.</B></TD><TD STYLE="text-align: justify"><B>Ownership of Five Percent or Less of a Class.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif">As of the date of this Report, the aggregate beneficial
ownership of the Reporting Persons had been reduced to below five percent (5%).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 6.</B></TD><TD STYLE="text-align: justify"><B>Ownership of More than Five Percent on Behalf of another Person.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">SilverArc, an investment adviser registered under Section
203 of the Investment Advisers Act of 1940, is deemed to be the beneficial owner of 351,616 shares, or 5.9% of the Common Stock
believed to be outstanding, as a result of acting as investment adviser to various clients. Gandhi is the Sole Member of SilverArc
and as such is deemed to be the beneficial owner of 351,616 shares, or 5.9% of the Common Stock believed to be outstanding.&nbsp;
Clients of SilverArc have the right to receive and the ultimate power to direct the receipt of dividends from, or the proceeds
of the sale of, such securities. SilverArc Capital Alpha Fund I, L.P., a Delaware limited partnership for which SilverArc acts
as an investment adviser, may be deemed to beneficially own 32,765 of these 351,616 shares, which equates to 0.6% of the Common
Stock believed to be outstanding. SilverArc Capital Alpha Fund II, L.P., a Delaware limited partnership for which SilverArc acts
as an investment adviser, may be deemed to beneficially own 296,088 of these 351,616 shares, which equates to 5.0% of the Common
Stock believed to be outstanding. 2b LLC, a Delaware limited liability company for which SilverArc acts as investment adviser,
may be deemed to beneficially own 22,763 of these 351,616 shares, which equates to 0.4% of the Common Stock believed to be outstanding.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 7.</B></TD><TD STYLE="text-align: justify"><B>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported
on By the Parent Holding Company.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 8.</B></TD><TD STYLE="text-align: justify"><B>Identification and Classification of Members of the Group.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.</B></TD><TD STYLE="text-align: justify"><B>Notice of Dissolution of Group.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP No. 24661P807</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 7 of 10</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 10.</B></TD><TD STYLE="text-align: justify"><B>Certification</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">By signing below, I certify that,
to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business
and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that
purpose or effect.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt"><B>Exhibits.&#9;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify">Exhibit A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joint
Filing Agreement by and between the Reporting Persons dated March 10, 2021.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP No. 24661P807</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 8 of 10</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">March 10, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Date</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Calibri,sans-serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman,serif; margin: 0">/s/ Devesh S. Gandhi</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Devesh S. Gandhi, as Sole Member of SilverArc Capital Management, LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Calibri,sans-serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman,serif; margin: 0">/s/ Devesh S. Gandhi</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Devesh S. Gandhi</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt"><B>&nbsp;</B></P>


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<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP No. 24661P807</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 9 of 10</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt"><U>Ex.</U></FONT></TD>
    <TD STYLE="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt"><U>Page No.</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Joint Filing Agreement</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">10</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
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<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">CUSIP No. 24661P807</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Page 10 of 10</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: right"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: center"><B>JOINT FILING AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify">The undersigned hereby agree that the statement
on Schedule 13G with respect to the common stock of Delcath Systems, Inc., dated as of March 10, 2021, is, and any amendments thereto
(including amendments on Schedule 13D) signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and
in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">March 10, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Date</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
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        <P STYLE="font: 10pt Times New Roman,serif; margin: 0">/s/ Devesh S. Gandhi</P></TD>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Devesh S. Gandhi, as Sole Member of SilverArc Capital Management, LLC</FONT></TD>
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        <P STYLE="font: 11pt Calibri,sans-serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman,serif; margin: 0">/s/ Devesh S. Gandhi</P></TD>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Devesh S. Gandhi</FONT></TD>
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