other material
confidence high
sentiment neutral
materiality 0.75
Acurx Pharmaceuticals secures up to $12M equity line from Lincoln Park Capital
Acurx Pharmaceuticals, Inc.
- Lincoln Park committed to purchase up to $12M in common stock over 24 months.
- Regular purchases up to 60k shares/day (90k if stock ≥$2, 120k if ≥$3).
- Purchase price set at 97% of lowest of day's low or avg of three lowest closes in prior 10 days.
- Company issued 899,258 commitment shares to Lincoln Park as consideration.
- Proceeds to be used for working capital and general corporate purposes.