---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-022623"
form_type: "8-K"
ticker: "UNCY"
cik: "0001766140"
company_name: "Unicycive Therapeutics, Inc."
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T20:02:08.034504+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Unicycive raises $50M in private placement of Series B Convertible Preferred Stock

## Summary
- $50M gross proceeds from sale of 50,000 Series B shares at $1,000 each; close expected March 18, 2024.
- Conversion price set at $1.00 per share; conversion contingent on stockholder approval of share issuance.
- Annual dividend of 8%, increasing to 14% if stockholder approval is not obtained at first meeting.
- Led by new investors Octagon Capital and Great Point Partners, with participation from Logos Capital, Nantahala Capital, SilverArc Capital, Velan Capital, Vivo Capital, and Walleye Capital.
- Proceeds to support pivotal trial of Oxylanthanum Carbonate (OLC) and general working capital.

## SEC filing metadata
- accession: 0001213900-24-022623
- form_type: 8-K
- ticker: UNCY
- cik: 0001766140
- company_name: Unicycive Therapeutics, Inc.
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1766140/000121390024022623/0001213900-24-022623-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1766140/000121390024022623/ea0201825-8k_unicycive.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-022623
- JSON: https://secwatch.observer/filing/0001213900-24-022623.json
- Plain text: https://secwatch.observer/filing/0001213900-24-022623.txt

## Key facts
- Governance Changes
  Unicycive Therapeutics, Inc.: Filing of Certificate of Designation for Series B-1 Preferred Stock and Series B-2 Preferred Stock, setting forth rights, preferences, and limitations (effective 2024-03-14).
  - Change: charter amendment
  - Effective: 2024-03-14
  source text: Pursuant to the terms of the Purchase Agreement, on March 14, 2024, the Company filed the Certificate of Designation with the Delaware Secretary of State designating 50,000 shares of its authorized and unissued preferred stock as Series B-1 Preferred Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1766140/000121390024022623/0001213900-24-022623-index.htm
- Material Agreements
  Unicycive Therapeutics, Inc. entered into Securities Purchase Agreement with certain accredited investors valued at Aggregate purchase price of $50 million for 50,000 shares of Series B Convertible Preferred Stock at (effective 2024-03-13).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain accredited investors
  - Value: Aggregate purchase price of $50 million for 50,000 shares of Series B Convertible Preferred Stock at
  - Effective: 2024-03-13
  source text: On March 13, 2024, Unicycive Therapeutics , Inc. (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with certain accredited investors (the “ Investors ”), pursuant to which the Company agreed to issue and sell, in a private placement (the “ Private Placement ”), 50,000 shares of its Series B Convertible Preferred Stock, par value $0.001 per share (the “ Series B-1 Preferred Stock ”), at a purchase price of $1,000 per share with an initial conversion price of $1.00 per share, subject to adjustment (the “ Conversion Price”) , for an aggregate purchase price of $50 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1766140/000121390024022623/0001213900-24-022623-index.htm

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