---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-249207"
form_type: "8-K"
ticker: "VERU"
cik: "0000863894"
company_name: "VERU INC."
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:42:42.394102+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Veru amends asset purchase deal; accepts $1M cash + convertible preferred for $4M note from Blue Water Biotech

## Summary
- September 29, 2023: Veru deemed $4M promissory note satisfied by $1M cash and 3,000 shares of Blue Water Biotech Series A Convertible Preferred.
- Preferred stock has $1,000 stated value per share, convertible after one year into ~5.7M common shares at $0.5254/share, subject to shareholder approval.
- Veru received $1M cash on Sept 29; preferred shares to be issued by Oct 3. Buyer must seek shareholder approval by Dec 31, 2023.
- Amendment modifies April 2023 asset purchase agreement; Veru's risk includes future defaults and ability to monetize preferred shares.
- Blue Water Biotech (formerly Blue Water Vaccines) issued preferred with redemption rights at buyer's option, no holder redemption rights.

## SEC filing metadata
- accession: 0001193125-23-249207
- form_type: 8-K
- ticker: VERU
- cik: 0000863894
- company_name: VERU INC.
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/863894/000119312523249207/0001193125-23-249207-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/863894/000119312523249207/d536406d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-249207
- JSON: https://secwatch.observer/filing/0001193125-23-249207.json
- Plain text: https://secwatch.observer/filing/0001193125-23-249207.txt

## Key facts
- Material Agreements
  VERU INC. amended Amendment with Blue Water Biotech Inc. f/k/a Blue Water Vaccines Inc. (the Purchaser) valued at $1,000,000 (effective 2023-09-29).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Blue Water Biotech Inc. f/k/a Blue Water Vaccines Inc. (the Purchaser)
  - Value: $1,000,000
  - Effective: 2023-09-29
  source text: On September 29, 2023, Veru Inc. (the “Company”) entered into an Amendment to Asset Purchase Agreement (the “Amendment “) with Blue Water Biotech Inc. f/k/a Blue Water Vaccines Inc. (the “Purchaser”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/863894/000119312523249207/0001193125-23-249207-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.