secwatch.observer — SEC 8-K summary
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Issuer:     VERU INC. (VERU)
CIK:        0000863894
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001193125-24-118157
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Veru enters forbearance with Onconetix on $10M notes after default
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- Onconetix defaulted on $5M April 2024 note due Apr 19, 2024; Veru forbears until Mar 31, 2025.
- Borrower pays $50k upfront, then 15% of certain cash receipts monthly and 10% of net proceeds from financings.
- Interest accrues at 10% on unpaid April note balance from Apr 20; Sept note ($5M) due Sep 30, 2024 unchanged.
- Total principal $10M; no assurance of recovery; insolvency default provision waived during forbearance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/863894/000119312524118157/0001193125-24-118157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/863894/000119312524118157/d799173d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-118157

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