Tyme Technologies, Inc. (OTCMKTS:TYMI) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities.
This Amendment amends the Current Report on Form 8-K filed by
the Company on March 22, 2017 (the Original Report) to disclose
additional unregistered sales of equity securities made on the
same terms as previously disclosed. Except as provided herein,
the disclosures in the Original Report remain unchanged. The
following paragraphs are added to the Original Reports Item 3.02
disclosure:
Subsequent to the Original Report, we sold and issued to an
additional 15 investors (collectively, the Additional Purchasers)
for an aggregate of $3.48 million in gross proceeds an aggregate
of: (x) 1,363,719 shares of the common stock, par value $0.0001
per share (the Common Stock), of the Company and (y) 1,363,719
Common Stock purchase warrants (each, a Warrant). Each Warrant
entitles its holder to purchase one share of Common Stock (each,
a Warrant Share) at an exercise price of $3.00 per Share, subject
to adjustment. Each Warrant expires 24 months after the date of
issuance.
The Additional Purchasers have agreed to refrain from selling
Company securities and engaging in hedging transactions related
to Company securities for a period of six months after purchase
(such period, the Lockup Period). The Company will register
certain transactions involving such securities to the extent
necessary to effect transactions after the Lockup Period in
accordance with the Securities Act of 1933, as amended (the
Securities Act).
The Company believes the sale and issuance of the Common Stock is
exempt from registration to Section 4(a)(2) of the Securities
Act, as the sale and issuance were a transaction by an issuer not
involving any public offering.
The gross cash proceeds from the sale of Common Stock reported in
the Original Report and this report is $11.63 million.
The foregoing description of the terms and conditions of the
Warrants is only a summary and is qualified in its entirety by
the full text of the form of Warrant filed as Exhibit 10.1 to the
Original Report and such text is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
Set forth below is the exhibit to this Current Report on Form
8-K.
Exhibit Number |
Description |
|
10.1 |
Form of Warrant (incorporated herein by reference to |
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About Tyme Technologies, Inc. (OTCMKTS:TYMI)
Tyme Technologies, Inc., formerly Global Group Enterprises Corp., conducts majority of its research and development activities and other business operations, through its subsidiary, Tyme Inc. (Tyme). Tyme is a clinical-stage biopharmaceutical company. Tyme is focused on the development and commercialization of highly targeted cancer therapeutics with a range of oncology indications. The Company’s another subsidiary, Luminant Biosciences, LLC, conducts the initial research and development of the Company’s therapeutic platform. The Company is formulating its regulatory and drug development program for its lead drug candidate, SM-88, and working towards the initiation of its Phase II clinical trial. The Company is also evaluating the expansion of its Phase II program to other types of cancer. The Company has not generated any revenue. Tyme Technologies, Inc. (OTCMKTS:TYMI) Recent Trading Information
Tyme Technologies, Inc. (OTCMKTS:TYMI) closed its last trading session 00.00 at 3.25 with 3,700 shares trading hands.