---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-020383"
form_type: "8-K"
ticker: "TLPH"
cik: "0001427925"
company_name: "TALPHERA, INC."
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T04:53:56.437867+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AcelRx raises ~$10M via private placement of common stock and warrants

## Summary
- Gross proceeds ~$10M from sale of 5.34M shares, pre-funded warrants for 2.01M shares, and Series A/B warrants for 7.35M shares each at $1.11 exercise price; combined price $1.36.
- Closing expected July 20, 2023; placement agent H.C. Wainwright receives 5.25% fee, expense reimbursement up to $100k, and $200k if warrant exercise proceeds exceed $9.5M.
- Registration rights agreement requires filing resale registration statement within 15 days, effectiveness within 90 days.
- Series A/B warrants exercisable immediately, 5-year term; Series A term shortens to 45 days upon FDA EUA for Niyad; Series B term shortens upon successful registrational trial for Niyad.

## SEC filing metadata
- accession: 0001437749-23-020383
- form_type: 8-K
- ticker: TLPH
- cik: 0001427925
- company_name: TALPHERA, INC.
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1427925/000143774923020383/0001437749-23-020383-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1427925/000143774923020383/acrx20230719_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-020383
- JSON: https://secwatch.observer/filing/0001437749-23-020383.json
- Plain text: https://secwatch.observer/filing/0001437749-23-020383.txt

## Key facts
- Material Agreements
  TALPHERA, INC. entered into Registration Rights Agreement with the Purchasers (effective 2023-07-17).
  - Action: entry
  - Counterparty: the Purchasers
  - Effective: 2023-07-17
  source text: We entered into a registration rights agreement, dated July 17, 2023, with the Purchasers pursuant to which we have agreed to file a registration statement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1427925/000143774923020383/0001437749-23-020383-index.htm
- Material Agreements
  TALPHERA, INC. entered into Purchase Agreement with several institutional investors valued at approximately $10.0 million (effective 2023-07-17).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: several institutional investors
  - Value: approximately $10.0 million
  - Effective: 2023-07-17
  source text: On July 17, 2023, AcelRx Pharmaceuticals, Inc., or AcelRx, entered into a securities purchase agreement, or the Purchase Agreement, with several institutional investors, or the Purchasers, relating to the issuance and sale to the Purchasers in a private placement of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1427925/000143774923020383/0001437749-23-020383-index.htm

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