<SEC-DOCUMENT>0001171843-19-008302.txt : 20191223
<SEC-HEADER>0001171843-19-008302.hdr.sgml : 20191223
<ACCEPTANCE-DATETIME>20191223163015
ACCESSION NUMBER:		0001171843-19-008302
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20191217
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
FILED AS OF DATE:		20191223
DATE AS OF CHANGE:		20191223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HARVARD BIOSCIENCE INC
		CENTRAL INDEX KEY:			0001123494
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				043306140
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33957
		FILM NUMBER:		191306489

	BUSINESS ADDRESS:	
		STREET 1:		84 OCTOBER HILL RD
		CITY:			HOLLISTON
		STATE:			MA
		ZIP:			01746
		BUSINESS PHONE:		5088938999

	MAIL ADDRESS:	
		STREET 1:		84 OCTOBER HILL ROAD
		CITY:			HOLLISTON
		STATE:			MA
		ZIP:			01746
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_122319.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>UNITED STATES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">_____________________</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Form 8-K</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">_____________________</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CURRENT REPORT</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Date of Report (Date of earliest event Reported): December 17,
2019 </P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>HARVARD BIOSCIENCE, INC.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Exact Name of Registrant as Specified in Charter)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="width: 34%; text-align: center"><B>001-33957</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>04-3306140</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer Identification Number)</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; text-align: center"><B>84 October Hill Road, Holliston, MA 01746</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of Principal Executive Offices) (Zip Code)</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(508) 893-8999</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Registrant's telephone number, including area code)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Former name or former address, if changed since last report)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font-size: 10pt; margin: 0pt 0">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:</P>
        <P STYLE="font-size: 10pt; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">[ &nbsp; ]</TD>
    <TD STYLE="width: 91%">&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>[ &nbsp; ]</TD>
    <TD>&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>[ &nbsp; ]</TD>
    <TD>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>[ &nbsp; ]</TD>
    <TD>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

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    <TD STYLE="width: 33%; border: black 1pt solid; text-align: center">Title of each class</TD>
    <TD STYLE="width: 31%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">Trading Symbol(s)</TD>
    <TD STYLE="width: 36%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">Name of each exchange on which registered</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">Common Stock, $0.01 par value</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">HBIO</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">The NASDAQ Stock Market</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging growth company as defined
in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule&nbsp;12b-2&nbsp;of the Securities Exchange Act of 1934
(17 CFR&nbsp;&sect;240.12b-2).&nbsp;Emerging growth company [&nbsp;&nbsp;]</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant has elected not
to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. [&nbsp;&nbsp; ]</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 2.05. Costs Associated with Exit or Disposal Activities.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-weight: normal">On December 17, 2019, the Board of Directors of Harvard
Bioscience, Inc. (the &ldquo;Company&rdquo;) approved a restructuring program to support delivery of its strategic action plan
communicated in September 2019. The strategic action plan is designed to improve gross margins and operating margins while reinvesting
in resources required to deliver sustained, profitable organic growth.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-weight: normal">The restructuring program will be implemented beginning
in the current quarter and over 2020 and will entail consolidating and downsizing sites and other headcount reductions in Europe
and North America to improve operational efficiency and reduce costs. A portion of the savings will be reinvested to drive profitable
growth.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The restructuring program is expected to be completed by the end of 2020, with the majority
of activities completed in the first half of the year, delivering annualized run-rate savings of $4.0-to-$5.0 million. The Company
expects to incur costs associated with headcount reductions, program management and other transition costs required to affect the
site consolidations and other business improvements totaling $4.0-to-$5.0 million, substantially all of which is expected to result
in future cash outlays. All the estimates described in this Item 2.05 may change in the future.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The following table provides a summary of the Company's estimate of costs associated
with the program:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="width: 50%; border-bottom: black 1pt solid; text-align: center"><B>Type of Cost</B></TD>
    <TD STYLE="width: 50%; border-bottom: black 1pt solid; text-align: center"><B>Total Estimated Amount Expected to be Incurred</B></TD></TR>
<TR>
    <TD><B>Restructuring charges:</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD>Termination benefits</TD>
    <TD STYLE="text-align: center">$1.6&nbsp;&nbsp;&nbsp;million to $1.9&nbsp;&nbsp;&nbsp;million</TD></TR>
<TR>
    <TD>Other (1)</TD>
    <TD STYLE="text-align: center">$0.4&nbsp;&nbsp;&nbsp;million to $0.6&nbsp;&nbsp;&nbsp;million</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><B>Restructuring-related expenses:</B></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>Other (2)</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">$2.0&nbsp;&nbsp;&nbsp;&nbsp;million to $2.5&nbsp;&nbsp;million</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: center"><B>$4 &nbsp;million to $5&nbsp;&nbsp;million</B></TD></TR>
<TR>
    <TD COLSPAN="2">
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">(1) Consists primarily of lease terminations and other costs associated with contract cancellations. The Company is currently
unable to estimate any non-cash charges for fixed asset or intangible asset write-downs associated with the restructuring.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">(2)
Comprised of other cash costs directly related to the restructuring program, including program management, and other costs
to integrate facilities and related information systems.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SIGNATURE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">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.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>HARVARD BIOSCIENCE, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date: December 23, 2019</TD>
    <TD>By:&nbsp;</TD>
    <TD>/s/ James Green&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Green</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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