secwatch.observer — SEC 8-K summary
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Issuer:     COGNITION THERAPEUTICS INC (CGTX)
CIK:        0001455365
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001104659-23-030852
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cognition Therapeutics enters $35M equity line with Lincoln Park; reports FY2022 net loss of ~$21.4M
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- Entered purchase agreement to sell up to $35M of common stock to Lincoln Park over 36-month term.
- Preliminary FY2022 net loss expected to be ~$21.4M; cash and equivalents ~$41.6M as of Dec 31, 2022.
- Issued 189,856 commitment shares and paid $350,000 fee to Lincoln Park; no short selling or hedging allowed.
- Sales limited to 19.99% of outstanding shares (~5.8M) without stockholder approval or average price ≥$1.79.
- Proceeds intended for working capital and general corporate purposes; no financial covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1455365/000110465923030852/0001104659-23-030852-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1455365/000110465923030852/tm239035d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-030852

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