CAPSTONE THERAPEUTICS CORP. (OTCMKTS:CAPS) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03.
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Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
On December 11, 2015, Capstone Therapeutics Corp. (we, our, us or
the Company) entered into a Securities Purchase Agreement (the
Agreement) with Biotechnology Value Fund affiliated entities
Biotechnology Value Fund, L.P., Biotechnology Value Fund II,
L.P., Biotechnology Value Trading Fund OS, L.P., Investment 10,
LLC, and MSI BVF SPV, LLC (the Lenders) (Included as Exhibit 10.1
to the Companys Current Report on Form 8-K filed with the
Securities and Exchange Commission on December 15, 2015). The
Lenders currently own in the aggregate approximately 19% of our
outstanding Common Stock, par value $.0005 per share (Common
Stock).
to the Agreement, the Lenders funded an aggregate of $1,000,000
of loans to us, evidenced by Convertible Promissory Notes (the
Notes) dated December 11, 2015 and due April 30, 2017. On April
28, 2017 the Lenders entered into a Letter Agreement extending
the maturity of the Notes to June 15, 2017 (Included as Exhibit
10.1 to the Companys Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on May 4, 2017). On June 12,
2017, the Lenders entered into the 2nd Letter
Agreement to extend the maturity of the Notes to June 30, 2017
(Included as Exhibit 10.1 to the Companys Current Report on Form
8-K filed with the Securities and Exchange Commission on June 15,
2017). On June 29, 2017 the Lenders entered into the 3rd Letter
Agreement to extend the maturity of the Notes to July 14, 2017.
The Notes bear interest at 5% per annum and are secured by a
security interest in all of our assets.
A copy of the 3rd Letter Agreement is filed with this report as
Exhibit 10.1 and is incorporated into this Item 2.03 by this
reference.
Section 9 Financial Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. | Description |
| 10.1 |
3rd Letter Agreement dated June 29, 2017 to the Securities Purchase Agreement dated December 11, 2015, by and among Capstone Therapeutics, Corp. and Biotechnology Value Fund, L.P., Biotechnology Value Fund II, L.P., Biotechnology Value Trading Fund OS, L.P., Investment 10, LLC, and MSI BVF SPV, LLC. |
Capstone Therapeutics Corp. ExhibitEX-10.1 2 exh_101.htm EXHIBIT 10.1 Exhibit 10.1 3rd Letter Agreement This Letter Agreement is by and between Capstone Therapeutics Corp.,…To view the full exhibit click here About CAPSTONE THERAPEUTICS CORP. (OTCMKTS:CAPS)
Capstone Therapeutics Corp. is a biotechnology company. The Company is engaged in developing a pipeline of peptides and other molecules aimed at helping patients with under-served medical conditions. The Company entered into a joint venture, LipimetiX Development, Inc., to develop Apo E mimetic peptide molecule AEM-28 and its analogs for the treatment for Homozygous Familial Hypercholesterolemia, Acute Hypertriglyceridemic Pancreatitis, diabetic dyslipidemia and other hyperlipidemic indications. Apolipoprotein E is a 299 amino acid protein that plays a role in lipoprotein metabolism. AEM-28 is a 28 amino acid mimetic of Apo E and AEM-28 and its analogs, including AEM-28-14, a 28 amino acid mimetic of Apo E (with an aminohexanoic acid group and a phospholipid), and both contain a domain that anchors into a lipoprotein surface while also providing the Apo E receptor binding domain, which allows clearance through the heparan sulfate proteoglycan receptors (Syndecan-1) in the liver.