Exicure, Inc. Files 8-K for Material Agreement
Ticker: XCUR · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1698530
| Field | Detail |
|---|---|
| Company | Exicure, Inc. (XCUR) |
| Form Type | 8-K |
| Filed Date | Sep 13, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $700,000, $3.00, $300,000, $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, equity-sale, corporate-event
TL;DR
EXICURE FILES 8-K: MATERIAL AGREEMENT SIGNED, EQUITY SALES REPORTED.
AI Summary
On September 12, 2024, Exicure, Inc. entered into a Material Definitive Agreement. The company also reported on unregistered sales of equity securities and other events. Exicure, Inc. is incorporated in Delaware and its principal executive offices are located in Chicago, IL.
Why It Matters
This 8-K filing indicates significant corporate activity for Exicure, Inc., potentially involving new agreements or equity transactions that could impact its business and stock.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.
Key Numbers
- 001-39011 — SEC File Number (Identifies Exicure, Inc.'s filing with the SEC.)
- 81-5333008 — IRS Employer Identification No. (Tax identification number for Exicure, Inc.)
Key Players & Entities
- EXICURE, INC. (company) — Registrant
- September 12, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 2430 N. Halsted St. Chicago, IL 60614 (address) — Principal executive offices
- Max-1 Acquisition Corp (company) — Former company name
FAQ
What is the nature of the Material Definitive Agreement entered into by Exicure, Inc. on September 12, 2024?
The filing does not specify the details of the Material Definitive Agreement, only that one was entered into on September 12, 2024.
What type of equity securities were sold in the unregistered sales reported?
The filing mentions unregistered sales of equity securities but does not provide specific details about the type or amount of securities sold.
What are the "Other Events" reported in this 8-K filing?
The filing lists "Other Events" as an item information category but does not provide specific details within the provided text.
When was Exicure, Inc. formerly known as Max-1 Acquisition Corp?
The date of the name change from Max-1 Acquisition Corp to Exicure, Inc. was February 21, 2017.
What is Exicure, Inc.'s SIC code?
Exicure, Inc.'s Standard Industrial Classification (SIC) code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 667 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-09-13 16:21:40
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share XCUR The Nasdaq Stock Market
- $700,000 — and unpaid interest on that certain the $700,000 promissory note dated May 28, 2024, the
- $3.00 — DGP (representing a conversion price of $3.00 per share). DGP is the Company's larges
- $300,000 — and unpaid interest on that certain the $300,000 promissory note dated May 3, 2024, the
- $1.00 — ice of the Company's common stock being $1.00 per share or greater for 10 consecutive
Filing Documents
- xcur-20240912.htm (8-K) — 25KB
- 0001698530-24-000101.txt ( ) — 144KB
- xcur-20240912.xsd (EX-101.SCH) — 2KB
- xcur-20240912_lab.xml (EX-101.LAB) — 21KB
- xcur-20240912_pre.xml (EX-101.PRE) — 12KB
- xcur-20240912_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement The information set forth under Item 3.02 below is incorporated by reference into this Item 1.01.
02 Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sale of Equity Securities On September 12, 2024, the Company entered into debt-for-equity exchange agreements with two holders promissory notes. Under the Company's agreement with DGP Co., Ltd. ("DGP"), in exchange for satisfaction in full of the principal amount plus accrued and unpaid interest on that certain the $700,000 promissory note dated May 28, 2024, the Company agreed to issue 237,233 shares of its common stock to DGP (representing a conversion price of $3.00 per share). DGP is the Company's largest shareholder with ownership of approximately 35% of outstanding shares of common stock before giving effect to the exchanges described herein. Under the Company's agreement with an individual promissory note holder, in exchange for satisfaction in full of the principal amount plus accrued and unpaid interest on that certain the $300,000 promissory note dated May 3, 2024, the Company agreed to issue 101,991 shares of its common stock to the individual (also representing a conversion price of $3.00 per share). The Company's shares of common stock to be issued in connection with the exchanges will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), and will be issued in reliance on the exemption from the registration requirements thereof provided by Section 4(a)(2) of the Securities Act in a transaction by an issuer not involving a public offering.
01 Other Events
Item 8.01 Other Events On September 13, 2024, the Company received notice from The Nasdaq Stock Market LLC (Nasdaq) that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) as a result of the closing bid price of the Company's common stock being $1.00 per share or greater for 10 consecutive trading sessions. The Company is now compliant with the minimum bid price listing standard for continued Nasdaq listing.
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. Date: September 13, 2024 EXICURE, INC. By: /s/ Paul Kang Paul Kang Chief Executive Officer