ALIMERA SCIENCES, INC. (NASDAQ:ALIM) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.
ALIMERA SCIENCES, INC. (NASDAQ:ALIM) Files An 8-K Termination of a Material Definitive Agreement
As previously disclosed, on October 24, 2019, Alimera Sciences, Inc., the registrant (“Alimera”), entered into a purchase agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“LPC”), to which Alimera had the right to sell to LPC up to $20.0 million of shares of Alimera’s common stock over the 36-month term of the Purchase Agreement, subject to certain limitations. As consideration for Lincoln Park’s commitment to purchase shares of common stock to the Purchase Agreement, Alimera issued 1,363,636 shares of its common stock to Lincoln Park on October 25, 2019 for no additional consideration.
Under the terms of the Purchase Agreement, LPC made an initial purchase of 2,000,000 shares of common stock at a price of $0.50 per share in cash, for an aggregate price of $1,000,000, on October 28, 2019. Alimera has not sold any additional shares of common stock to LPC since then.
On November 11, 2019, Alimera delivered notice to LPC to the Purchase Agreement terminating the Purchase Agreement after determining that it had no intention to conduct further sales to LPC under the Purchase Agreement. Under the terms of the Purchase Agreement, termination of the Purchase Agreement will be effective on November 12, 2019.
The summary of the terms of the Purchase Agreement set forth in Alimera’s Current Report on Form 8-K dated October 24, 2019 and filed with the SEC on October 25, 2019>is hereby incorporated by reference into this Current Report on Form 8-K (this “Report”).
Alimera issued a press release regarding the termination of the Purchase Agreement on the date of this Report. The full text of the press release is furnished as Exhibit 99.1 to this Report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
ALIMERA SCIENCES INC Exhibit
EX-99.1 2 exhibit991lpctermpr.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASEFor press inquiries:Jules Abrahamfor Alimera Sciences 917-885-7378julesa@coreir.comFor investor inquiries:Scott Gordonfor Alimera Sciences scottg@coreir.com Alimera Sciences Terminates Equity Purchase AgreementATLANTA,…
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EX-99.1 2 exhibit991lpctermpr.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASEFor press inquiries:Jules Abrahamfor Alimera Sciences 917-885-7378julesa@coreir.comFor investor inquiries:Scott Gordonfor Alimera Sciences scottg@coreir.com Alimera Sciences Terminates Equity Purchase AgreementATLANTA,…
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About ALIMERA SCIENCES, INC. (NASDAQ:ALIM)
Alimera Sciences, Inc. (Alimera) is a pharmaceutical company. The Company is engaged in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The Company operates through two segments: U.S. and International. The Company focuses on diseases affecting the back of the eye or retina. The Company’s product is ILUVIEN, which is developed to treat diabetic macular edema (DME). DME is a disease of the retina that affects individuals with diabetes and can lead to severe vision loss and blindness. In the United States, ILUVIEN is indicated for the treatment of DME in patients who have been treated with a course of corticosteroids and did not have a rise in intraocular pressure (IOP). In the European Economic Area (EEA) countries, ILUVIEN is indicated for the treatment of vision impairment associated with DME considered insufficiently responsive to available therapies.