ACURA PHARMACEUTICALS, INC: debt financing — Acura extends $4.67M related-party promissory note maturity to March 31, 2024

ACURA PHARMACEUTICALS, INC

Original note of $4,669,279 at 5.25% interest matured Dec 31, 2023; maturity extended to March 31, 2024.
Note held by AD Pharma, which owns ~66% of Acura common stock (excluding warrants to purchase 10M shares).
John Schutte controls AD Pharma and directly owns ~14% of Acura.
Overdue amounts bear default interest at 7.5%; default triggers include bankruptcy and non-payment.
Extension provides short-term liquidity relief but highlights ongoing financial pressure.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ACURA PHARMACEUTICALS, INC amended loan of $4,669,279 with Abuse Deterrent Pharma, LLC at 5.25% maturing March 31, 2024.

Instrument: loan
Principal: $4,669,279
Counterparty: Abuse Deterrent Pharma, LLC
Rate: 5.25%
Maturity: March 31, 2024
Event: amendment

Exact text from the filing

#1 to the November 10, 2022 Amended, Consolidated and Restated Secured Promissory Note (the “Note”). Amendment #1 has an effective date of December 7, 2023. This Note totaling $4,669,279 bears interest at 5.25% and had a maturity date of December 31, 2023, at which time all principal and interest was due. Amendment #1 changes the maturity date of the Note to March

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001104659-23-128084

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.