AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On March 23, 2018, Aytu BioScience, Inc. (the “Company”) entered into a Warrant Exercise Agreement with a holder (“Holder”) of the Company’s outstanding warrants (the “Warrant”). to the Exercise Agreement, the Company agreed to reduce the exercise price of the Holder’s Warrant from $3.60 to one cent less than the closing price on the last trading day prior to the exercise date ($0.41 per share) provided that the Holder exercised the Warrant for cash by March 23, 2018 and the Company also agreed to issue the Holder a new Warrant to purchase 2,000,000 shares of the Company’s common stock at an exercise price of $.54 per share. In accordance with the Exercise Agreement, the Holder exercised the Warrant and the Company received net proceeds of $615,000.
The form of Warrant Exercise Agreement(including the New Warrant) is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference.
In connection with the foregoing, the Company relied upon the exemption from securities registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended for transactions not involving a public offering.
Item 3.02 Unregistered Sales of Equity Securities.
The response to this item is included in Item 1.01, Entry into a Material Definitive Agreement, and is incorporated herein in its entirety.
Item 3.03. Material Modification to Rights of Security Holders.
The response to this item is included in Item 1.01, Entry into a Material Definitive Agreement, and is incorporated herein in its entirety.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| ExhibitNo. | Description |
| 10.1 | Form of Warrant Exercise Agreement |
AYTU BIOSCIENCE, INC ExhibitEX-10.1 2 f8k032318ex10-1_aytubio.htm FORM OF WARRANT EXERCISE AGREEMENT Exhibit 10.1 WARRANT EXERCISE AGREEMENT THIS WARRANT EXERCISE AGREEMENT (the “Agreement”) is dated as of March 23,…To view the full exhibit click here
About AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU)
Aytu BioScience, Inc. is a commercial-stage healthcare company focused on acquiring, developing and commercializing products in the field of urology. The Company focuses on hypogonadism, prostate cancer, urinary tract infections and male infertility. The Company markets ProstaScint (capromab pendetide), a radio imaging agent indicated to detect the prostate specific membrane antigen (PSMA) in the assessment and staging of prostate cancer. The Company also markets Primsol (trimethoprim hydrochloride), a trimethoprim-only oral solution for urinary tract infections. The Company’s pipeline includes MiOXSYS, an in vitro diagnostic device. MiOXSYS system is a point-of-care semen analysis system, used for diagnosis and management of male infertility. The Company holds the United States rights to Natesto (testosterone), a formulation of testosterone delivered through a nasal gel. Natesto is used for the treatment of hypogonadism (low testosterone) in men.
