<SEC-DOCUMENT>0001622627-25-000001.txt : 20250127
<SEC-HEADER>0001622627-25-000001.hdr.sgml : 20250127
<ACCEPTANCE-DATETIME>20250127160216
ACCESSION NUMBER:		0001622627-25-000001
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250127
DATE AS OF CHANGE:		20250127

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELCATH SYSTEMS, INC.
		CENTRAL INDEX KEY:			0000872912
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				061245881
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-60851
		FILM NUMBER:		25558818

	BUSINESS ADDRESS:	
		STREET 1:		566 QUEENSBURY AVENUE
		CITY:			QUEENSBURY
		STATE:			NY
		ZIP:			12804
		BUSINESS PHONE:		(518) 743-8892

	MAIL ADDRESS:	
		STREET 1:		566 QUEENSBURY AVENUE
		CITY:			QUEENSBURY
		STATE:			NY
		ZIP:			12804

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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Rosalind Advisors, Inc.
		CENTRAL INDEX KEY:			0001622627
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		25 ADMIRAL ROAD
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5R 2L4
		BUSINESS PHONE:		4168887606

	MAIL ADDRESS:	
		STREET 1:		15 WELLESLEY STREET WEST
		STREET 2:		SUITE 326
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4Y 0G7
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0001019056-20-000228</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001622627</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>13</amendmentNo>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <dateOfEvent>12/23/2024</dateOfEvent>
      <previouslyFiledFlag>true</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0000872912</issuerCIK>
        <issuerCUSIP>24661P807</issuerCUSIP>
        <issuerName>DELCATH SYSTEMS, INC.</issuerName>
        <address>
          <com:street1>566 QUEENSBURY AVENUE</com:street1>
          <com:street2>566 QUEENSBURY AVENUE</com:street2>
          <com:city>QUEENSBURY</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>12804</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Steven Salamon</personName>
          <personPhoneNum>4167910300</personPhoneNum>
          <personAddress>
            <com:street1>15 Wellesley Street West</com:street1>
            <com:street2>Suite 326</com:street2>
            <com:city>Toronto</com:city>
            <com:stateOrCountry>A6</com:stateOrCountry>
            <com:zipCode>M5Y 0G7</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001622627</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Rosalind Advisors, Inc.</reportingPersonName>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>6659993.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>6659993.00</sharedDispositivePower>
        <aggregateAmountOwned>6659993.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>9.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent> As more fully described in Item 5, the shares of Preferred Stock and Warrants are subject to a 9.99% blocker, and the percentage set forth in row (13) gives effect to such blockers. The securities reported in rows (8), (10) and (11) show the number of shares of Common Stock that would be issuable upon full conversion and exercise of such reported securities and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (8), (10) and (11).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001623082</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>SALAMON STEVEN A J</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>154879.00</soleVotingPower>
        <sharedVotingPower>6401550.00</sharedVotingPower>
        <soleDispositivePower>154879.00</soleDispositivePower>
        <sharedDispositivePower>6401550.00</sharedDispositivePower>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>9.9</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001811824</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Aharon Gil</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>103564.00</soleVotingPower>
        <sharedVotingPower>6401550.00</sharedVotingPower>
        <soleDispositivePower>103564.00</soleDispositivePower>
        <sharedDispositivePower>6401550.00</sharedDispositivePower>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>9.9</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001579206</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Rosalind Master Fund L.P.</reportingPersonName>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>E9</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2871335.33</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2871335.33</sharedDispositivePower>
        <aggregateAmountOwned>2871335.33</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.7</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Rosalind Opportunities Fund I L.P.</reportingPersonName>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P8</citizenshipOrOrganization>
        <sharedVotingPower>3530215.00</sharedVotingPower>
        <sharedDispositivePower>3530215.00</sharedDispositivePower>
        <aggregateAmountOwned>3530215.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.0</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Shares</securityTitle>
        <issuerName>DELCATH SYSTEMS, INC.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>566 QUEENSBURY AVENUE</com:street1>
          <com:street2>566 QUEENSBURY AVENUE</com:street2>
          <com:city>QUEENSBURY</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>12804</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item2>
        <filingPersonName>(a)	This statement is filed by:

(i)	Rosalind Advisors, Inc. ( Advisor  to ROFI &amp; RMF)
(ii)	Rosalind Master Fund L.P. ( RMF )
(iii)	Rosalind Opportunities Fund I LP ( ROFI )
(iv)	Steven Salamon ( President  and portfolio manager of the Advisor)
(v)	Gil Aharon ( Secretary  and portfolio manager of the Advisor)

Each of the foregoing is referred to as a  Reporting Person  and collectively as the  Reporting Persons.  Each of the Reporting Persons is party to that certain Joint Filing Agreement, as further described in Item 7. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.
</filingPersonName>
        <principalBusinessAddress>Address of the Principal Office or, if none, residence
Rosalind Advisors, Inc. and Rosalind Opportunities Fund I L.P.
15 Wellesley Street West
Suite 326,
Toronto, Ontario
M4Y 0G7 Canada

Rosalind Master Fund L.P.
P.O. Box 309
Ugland House, Grand Cayman
KY1-1104, Cayman Islands


Steven Salamon
15 Wellesley Street West
Suite 326,
Toronto, Ontario
M4Y 0G7 Canada

Gil Aharon
15 Wellesley Street West
Suite 326,
Toronto, Ontario
M4Y 0G7 Canada
</principalBusinessAddress>
        <principalJob>The principal business of Rosalind Advisors, Inc. is to operate as an investment advisory firm and to make public equity investments. The principal occupation of Mr. Salamon is serving as the Portfolio Manager and President of Rosalind Advisors, Inc., which advises ROFI &amp; RMF.</principalJob>
        <hasBeenConvicted>No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</hasBeenConvicted>
        <convictionDescription>No Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</convictionDescription>
        <citizenship>Mr. Salamon and Mr. Aharon are citizens of Canada, resident in Ontario</citizenship>
      </item2>
      <item3>
        <fundsSource>NA</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>Item 4 is hereby amended and supplemented as follows:
On May 6, 2020, pursuant to the terms of the Board Appointment Agreement, the Board of Directors of the Issuer (the Board) increased the number of directors constituting the Board to eight members and elected Steven Salamon and Gilad Aharon as independent directors of the Issuer to fill the vacancies created by the increase in the number of directors. Mr. Salamon was elected to serve as a Class III director with a term scheduled to expire at the 2024 Annual Meeting of Stockholders and Dr. Aharon was elected to serve as a Class I director with a term scheduled to expire at the 2025 Annual Meeting of Stockholders.
</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>Amount beneficially owned:
The information as of the date of the event which requires filing of this statement required by Items 5(a) to (c) is set forth in Rows 7 to 13 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.  The percentage set forth in Row 13 of the cover page for each Reporting Person is based on 33,052,385 shares of Common Stock issued and outstanding as of December 24, 2024, per communication with the Company, subject to the Blockers (as defined below).
Pursuant to the terms of (i) the certificate of designations containing the terms of the Reported Preferred Stock, the Reporting Persons cannot convert the Reported Preferred Stock to the extent the Reporting Persons would beneficially own, after any such conversion, more than 9.99 percent of the outstanding shares of Common Stock (the Preferred Stock Blockers) and (ii) the Reported Warrants, the Reporting Persons cannot exercise the Reported Warrants to the extent the Reporting Persons would beneficially own, after any such exercise, more than 4.99 percent of the outstanding shares of Common Stock (the Warrant Blockers and collectively with the Preferred Stock Blockers, the Blockers), and the percentage set forth in Row 11 of the cover page for each Reporting Person gives effect to the Blockers.  Consequently, as of the date of the event which requires the filing of this statement, the Reporting Persons were not able to exercise all of the Reported Preferred Stock or any of the Reported Warrants due to the Blockers.
Rosalind Advisors, Inc. is the investment advisor to ROFI and RMF and may be deemed to be the beneficial owner of shares held by ROFI and RMF.  Steven Salamon is the portfolio manager of the Advisor and may be deemed to be the beneficial owner of shares of Preferred Stock held, and underlying the Reported Warrants (subject to the Warrant Blockers) held by, RMF.  Notwithstanding the foregoing, the Advisor and Mr. Salamon disclaim beneficial ownership of any such shares.
</percentageOfClassSecurities>
        <numberOfShares>NA</numberOfShares>
        <transactionDesc>NA</transactionDesc>
        <listOfShareholders>NA</listOfShareholders>
        <date5PercentOwnership>NA</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>NA</contractDescription>
      </item6>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Rosalind Advisors, Inc.</signatureReportingPerson>
        <signatureDetails>
          <signature>Steven Salamon</signature>
          <title>Steven Salamon/President</title>
          <date>01/27/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>SALAMON STEVEN A J</signatureReportingPerson>
        <signatureDetails>
          <signature>Steven Salamon</signature>
          <title>Steven Salamon</title>
          <date>01/27/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Aharon Gil</signatureReportingPerson>
        <signatureDetails>
          <signature>Gil Aharon</signature>
          <title>Gil Aharon</title>
          <date>01/27/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Rosalind Master Fund L.P.</signatureReportingPerson>
        <signatureDetails>
          <signature>Mike McDonald</signature>
          <title>Director, Rosalind (Cayman) Ltd. (as General Partner to Rosalind Master Fund)</title>
          <date>01/27/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Rosalind Opportunities Fund I L.P.</signatureReportingPerson>
        <signatureDetails>
          <signature>Steven Salamon</signature>
          <title>Director, Rosalind Opportunities Fund I GP. Inc. (as General Partners to Rosalind Opportunities Fund I)</title>
          <date>01/27/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A BD-DIR-RESOL
<SEQUENCE>2
<FILENAME>exa_DCTH_13DA.htm
<TEXT>
<html>
<!-- Edgar-valid HTML by InstantEDGAR(TM) - Copyright Advanced Computer Innovations, Inc., 2014-2019 - Validation: OK -->
<head>
<title></title>
</head>
<body>
<div style=margin-left:72pt;width:468pt><p style='font:9pt Arial;margin:0'>&nbsp;</p>
<p style='font:9pt Arial;margin:0'><b>Exhibit A</b></p>
<p style='font:12pt Times New Roman;margin:0'>Joint Filing Agreement</p>
<p style='font:9pt Times New Roman;margin:0'>&nbsp;</p>
<p style='font:9pt Times New Roman;margin:0'>The undersigned hereby agree that this Statement on Schedule 13D/A with respect to the beneficial ownership of shares of Common Stock of Delcath Systems, Inc. is filed jointly, on behalf of each of them.</p>
<p style='font:9pt Times New Roman;margin:0'>&nbsp;</p>
<p style='font:11pt Times New Roman;margin:0'>&nbsp;</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'><b>Rosalind Advisors, Inc.</b></p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>By: _____________________________</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Name: Steven Salamon</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Title: President</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>&nbsp;</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'><b>Rosalind Master Fund L.P.</b></p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>By: _____________________________</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Name: Mike McDonald</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Title: Director, Rosalind (Cayman) Ltd. (as General Partner to Rosalind Master Fund)</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>&nbsp;</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>By: _____________________________</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Name: Steven Salamon</p>
<p style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>&nbsp;</p>
<p style='font:12pt Times New Roman;margin:0'>&nbsp;</p>
<p style='font:12pt Times New Roman;margin:0'>&nbsp;</p>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
