Processa Pharmaceuticals raises $6.25M in registered direct offering at $0.80/share

Processa Pharmaceuticals, Inc.

Sold 7,812,544 shares at $0.80/share; gross proceeds $6.25M, net ~$5.7M after fees.
Closing expected Feb 14, 2023; Spartan Capital acted as sole placement agent.
Proceeds to fund clinical trials, R&D, working capital, and general corporate purposes.
Issuer subject to 90-day lockup until stock exceeds $2.00 for 10 consecutive trading days.

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

Processa Pharmaceuticals, Inc. entered into Purchase Agreement with certain accredited investors valued at approximately $6.25 million (effective 2023-02-09).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: approximately $6.25 million
Effective: 2023-02-09

Exact text from the filing

On February 9, 2023, Processa Pharmaceuticals, Inc. (the “Company”) and certain accredited investors (the “Investors”) entered into a securities purchase agreement (the “Purchase Agreement”) relating to the issuance and sale of shares of common stock pursuant to a registered direct offering (the “Offering”).

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

Processa Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-004481

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.