Channel Therapeutics Corp. Enters Material Definitive Agreement

TL;DR

Channel Therapeutics Corp. just signed a big deal, creating a new financial obligation.

AI Summary

On February 25, 2025, Channel Therapeutics Corp. entered into a material definitive agreement, creating a direct financial obligation. The company, formerly known as Chromocell Therapeutics Corp., is incorporated in Nevada and has its principal executive offices in Freehold, NJ.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Channel Therapeutics Corp., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and operational changes for a company.

Key Players & Entities

• Channel Therapeutics Corp. (company) — Registrant
• Chromocell Therapeutics Corp. (company) — Former company name
• February 25, 2025 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of incorporation
• Freehold, NJ (location) — Address of registrant's principal executive office

FAQ

From the Filing

0001753926-25-000376.txt : 20250303 0001753926-25-000376.hdr.sgml : 20250303 20250303070031 ACCESSION NUMBER: 0001753926-25-000376 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20250225 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250303 DATE AS OF CHANGE: 20250303 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Channel Therapeutics Corp CENTRAL INDEX KEY: 0001919246 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 863335449 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41964 FILM NUMBER: 25693731 BUSINESS ADDRESS: STREET 1: 685 US HIGHWAY ONE CITY: NORTH BRUNSWICK STATE: NJ ZIP: 08902 BUSINESS PHONE: 9176446313 MAIL ADDRESS: STREET 1: 685 US HIGHWAY ONE CITY: NORTH BRUNSWICK STATE: NJ ZIP: 08902 FORMER COMPANY: FORMER CONFORMED NAME: Chromocell Therapeutics Corp DATE OF NAME CHANGE: 20220323 8-K 1 g084719_8k.htm 8-K false 0001919246 0001919246 2025-02-25 2025-02-25 iso4217:USD xbrli:shares iso4217:USD xbrli:shares   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT   Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): February 25, 2025   Channel Therapeutics Corporation (Exact name of registrant as specified in its charter)   Nevada   001-41964   86-3335449 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   4400 Route 9 South , Suite 1000 Freehold , NJ   07728 (Address of registrant’s principal executive office)   (Zip code)   Registrant’s telephone number, including area code: (877) 265-8266   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.0001 per share   CHRO   The NYSE American LLC   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ☒   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐           Item 1.01 Entry into a Material Definitive Agreement   On February 25, 2025, Channel Therapeutics Corporation (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $325,000 (the “Note”) to 3i, L.P., a Delaware limited partnership (the “Holder”), for a purchase price of $250,000, pursuant to which the Company promises