Cocrystal Pharma completes $4M private placement of common stock at $1.97/share

Cocrystal Pharma, Inc.

Sold 2,030,458 shares at $1.97 each for total proceeds of $4.0 million.
Investors: director/co-founder Phillip Frost and Fred Hassan (Caret Group, Warburg Pincus), each investing $2.0 million.
Net proceeds to advance preclinical/clinical antiviral programs and for working capital.
Company preparing for Phase 2a influenza A study (CC-42344) and first-in-human COVID-19 trial (CDI-988) in 2023.

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

Cocrystal Pharma, Inc. entered into Securities Purchase Agreement with Fred Hassan and Frost Gamma Investments Trust valued at $4,000,000 (effective 2023-04-04).

Action: entry
Agreement: equity purchase
Counterparty: Fred Hassan and Frost Gamma Investments Trust
Value: $4,000,000
Effective: 2023-04-04

Exact text from the filing

On April 4, 2023, Cocrystal Pharma, Inc. (the “Company”) entered into a Securities Purchase Agreement (“SPA”) with two accredited investors (the “Purchasers”) whereby the Purchasers agreed to purchase a total of 2,030,458 shares of common stock at a price of $1.97 per share for a total purchase price of $4,000,000 in two equal $2,000,000 investments.

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Cocrystal Pharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-011642

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