secwatch.observer — SEC 8-K summary
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Issuer:     Phio Pharmaceuticals Corp. (PHIO)
CIK:        0001533040
Form:       8-K
Filed at:   2024-07-05T23:59:59+00:00
Accession:  0001683168-24-004683
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phio terminates $621K share purchase agreement with Triton Funds after stock falls below floor
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- On July 3, 2024, Phio terminated the Purchase Agreement with Triton Funds LP, effective immediately.
- The agreement allowed Triton to buy up to 95,833 shares at $6.48/share for gross proceeds up to $621,000.
- No shares were ever sold under the agreement; termination followed a $5.23 close on July 3, below the $6.48 floor.
- Phio's Board determined termination was advisable to pursue alternative financing.
- Press release states the agreement would have allowed Triton to purchase up to 18.8% of common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1533040/000168316824004683/0001683168-24-004683-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1533040/000168316824004683/phio_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-004683

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