secwatch.observer — SEC 8-K summary
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Issuer:     TITAN PHARMACEUTICALS INC (—)
CIK:        0000910267
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001829126-25-002284
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Titan Pharmaceuticals raises $1M via Series B preferred, receives Nasdaq deficiency notice for equity shortfall
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- Private placement of 100,000 Series B Preferred shares at $10 each for $1M aggregate; conversion price $3.00, convertible into ~333,333 common shares.
- Nasdaq notified Titan on March 26, 2025, that stockholders' equity of $2.44M falls short of the $2.5M minimum requirement; company has 45 days to submit compliance plan.
- Board appointed Gabriel Loh as independent director and Audit Committee member effective March 27, 2025.
- Closing of the placement expected week of April 7, 2025; investor is Blue Harbour Asset Management L.L.C-FZ.
- Registration rights granted to investor; securities issued under Regulation S without registration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/910267/000182912625002284/0001829126-25-002284-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/910267/000182912625002284/titanpharma_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-002284

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