Phio Pharmaceuticals Files 8-K: Material Agreement & Equity Sales
Ticker: PHIO · Form: 8-K · Filed: Jul 12, 2024 · CIK: 1533040
| Field | Detail |
|---|---|
| Company | Phio Pharmaceuticals Corp. (PHIO) |
| Form Type | 8-K |
| Filed Date | Jul 12, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $324.00, $9.72, $5.45, $0.125 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, equity-sale, corporate-filing
TL;DR
Phio Pharma signed a big deal & sold stock, filing an 8-K.
AI Summary
On July 11, 2024, Phio Pharmaceuticals Corp. entered into a material definitive agreement. The company also reported on unregistered sales of equity securities and other events, filing financial statements and exhibits as part of this 8-K report.
Why It Matters
This filing indicates significant corporate activity, including a new material agreement and potential equity transactions, which could impact the company's financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing details a material definitive agreement and unregistered sales of equity, which can introduce financial and operational risks.
Key Numbers
- 001-36304 — SEC File Number (Identifies the company's filing history with the SEC.)
- 45-3215903 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Phio Pharmaceuticals Corp. (company) — Registrant
- July 11, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Marlborough, Massachusetts (location) — Principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by Phio Pharmaceuticals Corp. on July 11, 2024?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the provided text excerpt.
What type of equity securities were sold in the unregistered sales reported by Phio Pharmaceuticals Corp.?
The filing mentions unregistered sales of equity securities, but the specific type of securities is not detailed in the provided text.
What are the principal executive offices of Phio Pharmaceuticals Corp.?
The principal executive offices are located at 11 Apex Drive, Suite 300A, PMB 2006, Marlborough, Massachusetts 01752.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated July 11, 2024.
What was the former name of Phio Pharmaceuticals Corp.?
The former name of Phio Pharmaceuticals Corp. was RXi Pharmaceuticals Corp., with a date of name change on October 19, 2011.
Filing Stats: 1,299 words · 5 min read · ~4 pages · Grade level 10.2 · Accepted 2024-07-12 16:30:12
Key Financial Figures
- $0.0001 — h registered: Common Stock, par value $0.0001 per share PHIO The Nasdaq Capital M
- $324.00 — er 2023, having exercise prices between $324.00 and $9.72 per share (the "Existing Warr
- $9.72 — ing exercise prices between $324.00 and $9.72 per share (the "Existing Warrants"). T
- $5.45 — Warrants at a reduced exercise price of $5.45 per share in consideration of the Compa
- $0.125 — Shares"), issued and sold at a price of $0.125 per New Warrant. The Series C Warrants
- $6.50 — secutive trading days equals or exceeds $6.50 (each of which shall be after 30 calend
- $3.1 m — rrants are expected to be approximately $3.1 million, prior to deducting placement age
- $35,000 — e Company also agreed to pay Wainwright $35,000 for non-accountable expenses, $50,000 f
- $50,000 — t $35,000 for non-accountable expenses, $50,000 for accountable expenses and $15,950 fo
- $15,950 — s, $50,000 for accountable expenses and $15,950 for clearing fees. Additionally, in con
- $6.8125 — as applicable, and an exercise price of $6.8125 per share of Common Stock. 2 The for
Filing Documents
- phio_8k.htm (8-K) — 34KB
- phio_ex0401.htm (EX-4.1) — 118KB
- phio_ex0402.htm (EX-4.2) — 117KB
- phio_ex1001.htm (EX-10.1) — 51KB
- phio_ex9901.htm (EX-99.1) — 9KB
- image_001.jpg (GRAPHIC) — 2KB
- 0001683168-24-004800.txt ( ) — 579KB
- phio-20240711.xsd (EX-101.SCH) — 3KB
- phio-20240711_lab.xml (EX-101.LAB) — 33KB
- phio-20240711_pre.xml (EX-101.PRE) — 22KB
- phio_8k_htm.xml (XML) — 4KB
02. Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities. The disclosures in Item 1.01 of this Form 8-K regarding the New Warrants, and New Warrant Shares, the Placement Agent Warrants and the shares of Common Stock issuable thereunder are incorporated by reference into this Item 3.02.
01. Other Events
Item 8.01. Other Events. On July 12, 2024, the Company issued a press release announcing the pricing of the offering. The full text of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Number Description 4.1 Form of Series C/D Warrant, dated July 12, 2024. 4.2 Form of Placement Agent Warrant, dated July 12, 2024. 10.1 Form of Inducement Letter Agreement, dated July 12, 2024, by and between Phio Pharmaceuticals Corp. and the Holders. 99.1 Press release issued by the Company on July 12, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PHIO PHARMACEUTICALS CORP. Date: July 12, 2024 By: /s/ Robert Bitterman Name: Robert Bitterman Title: President & Chief Executive Officer 4