United Health Products updates FDA PMA progress for HemoStyp Gauze; amends White Lion agreement

United Health Products, Inc.

FDA update: batch lot from new mfg shown identical to human trial product; additional lots undergoing consistency testing.
Company believes consistent production is key criterion for PMA; final application will include test results.
No assurance that PMA application will be approved by FDA.
Amended CSPA with White Lion: purchase price set at 90% of VWAP if stock below $0.25 and floor waived (previously 93%).
Company has raised over $350,000 under the CSPA since September 2022; all other terms unchanged.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

United Health Products, Inc. amended Common Stock Purchase Agreement dated September 1, 2022 with White Lion Capital, LLC (effective 2023-01-25).

Action: amendment
Agreement: equity purchase
Counterparty: White Lion Capital, LLC
Effective: 2023-01-25

Exact text from the filing

On January 25, 2023, the Company and White Lion amended the CSPA to provide that if the Company issues a share price purchase notice at a time that the Company’s common stock is trading below the Floor Price and White Lion waives the Floor Price condition, the share purchase price multiplier for that transaction will be 90% instead of 93%.

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United Health Products, Inc. filing history →

Source: SEC EDGAR

accession 0001477932-23-000656

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