Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
TITAN PHARMACEUTICALS INC incurred loan of $250,000 with David E. Lazar at the Prime Rate + 2.00% per annum maturing the earlier of January 1, 2024 or such time as the Company receives debt or equity financing, or proceeds in excess of $500,000 from the Company’s transaction w.
- Instrument
- loan
- Principal
- $250,000
- Counterparty
- David E. Lazar
- Rate
- the Prime Rate + 2.00% per annum
- Maturity
- the earlier of January 1, 2024 or such time as the Company receives debt or equity financing, or proceeds in excess of $500,000 from the Company’s transaction w
- Event
- incurrence
Exact text from the filing
On July 20, 2023, the Company received $250,000 in funding in exchange for the issuance of an unsecured promissory note for that principal amount (the “Promissory Note”) to David E. Lazar, the Company’s Chief Executive Officer and chairman of the Company’s Board of Directors. Pursuant to the Promissory Note, the principal amount will accrue interest at a rate of the Prime Rate + 2.00% per annum, and all principal and accrued interest will be due and payable on the earlier of January 1, 2024 or such time as the Company receives debt or equity financing, or proceeds in excess of $500,000 from the Company’s transaction with Fedson, Inc. described above.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
TITAN PHARMACEUTICALS INC entered into Asset Purchase Agreement with Fedson, Inc. valued at upfront purchase price of $2 million ($1 million at closing, $1 million to be held in escrow) with p (effective 2023-07-26).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Fedson, Inc.
- Value
- upfront purchase price of $2 million ($1 million at closing, $1 million to be held in escrow) with p
- Effective
- 2023-07-26
Exact text from the filing
On July 26, 2023, Titan Pharmaceuticals, Inc. (the “Titan” or the “Company”) entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Fedson, Inc., a Delaware corporation (“Fedson”) for the sale of certain ProNeura assets including Titan’s portfolio of drug addiction products, in addition to other early development programs based on the ProNeura drug delivery technology (the “ProNeura Assets”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
TITAN PHARMACEUTICALS INC entered into Promissory Note with David E. Lazar valued at $250,000 principal amount, interest at Prime Rate + 2% per annum, due on earlier of January 1, 2024 (effective 2023-07-20).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- David E. Lazar
- Value
- $250,000 principal amount, interest at Prime Rate + 2% per annum, due on earlier of January 1, 2024
- Effective
- 2023-07-20
Exact text from the filing
On July 20, 2023, the Company received $250,000 in funding in exchange for the issuance of an unsecured promissory note for that principal amount (the “Promissory Note”) to David E. Lazar, the Company’s Chief Executive Officer and chairman of the Company’s Board of Directors.
View on SEC.gov