Arch Therapeutics, Inc.: debt financing — Arch Therapeutics receives $250K advance; warrants triggered if closing delayed or Nasdaq listing not obtained

Arch Therapeutics, Inc.

Advance of $250,000 as partial prepayment of SPA purchase price on March 28, 2024.
If closing not by April 30, 2024, purchasers may take 484,963 pre-funded warrants at $0.5155 and 484,963 common warrants.
If Nasdaq listing not approved by April 30, 2024, additional 121,240 pre-funded warrants and 121,240 common warrants by May 2, 2024.

item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Arch Therapeutics, Inc. incurred debt of $250,000 with certain purchaser parties (the "Advancing Purchasers").

Principal: $250,000
Counterparty: certain purchaser parties (the "Advancing Purchasers")
Event: incurrence

Exact text from the filing

On March 28, 2024, certain purchaser parties (the "Advancing Purchasers") to the previously disclosed Securities Purchase Agreement (the "SPA") dated November 8, 2023, among Arch Therapeutics, Inc. (the "Company") and the purchasers party thereto, advanced the Company an aggregate of $250,000 (the "Advance"), which Advance is being treated as partial prepayment of the purchase price for the Advancing Purchasers under the SPA.

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Source: SEC EDGAR

accession 0001437749-24-010908

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