ACURA PHARMACEUTICALS, INC: debt financing — Acura Pharmaceuticals receives $250k loan from major shareholder; warns of possible bankruptcy if no further funding

ACURA PHARMACEUTICALS, INC

Total note principal now $5,419,279 after 13th loan from AD Pharma (65% owner).
Loan matures March 31, 2024; funds used for operations only through mid-April.
Without additional funding by end of April, operations may cease or bankruptcy filed.
Default interest rate 7.5%; events include failure to pay, bankruptcy, inability to pay debts.
AD Pharma, controlled by Mr. Schutte, holds ~65% equity; Schutte personally owns ~13%.

item 1.01 item 2.01 item 2.03 item 9.01

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 incurred loan of $250,000 with Abuse Deterrent Pharma, LLC at 5.25% maturing March 31, 2024.

Instrument: loan
Principal: $250,000
Counterparty: Abuse Deterrent Pharma, LLC
Rate: 5.25%
Maturity: March 31, 2024
Event: incurrence

Exact text from the filing

On March 14, 2024 we received a $250,000 loan from Abuse Deterrent Pharma, LLC (“AD Pharma”).

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001104659-24-035530

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