CELSION CORPORATION (NASDAQ:CLSN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive |
As previously reported, on December 20, 2016, the Company entered
into a securities purchase agreement with certain investors to
which the Company agreed, among other things, to issue warrants
(the 2016 Warrants) to purchase up to 367,343 shares of Common
Stock to such investors in a registered direct offering.
As previously reported, on June 22, 2017, the Company entered
into a termination agreement in connection with a cancelled
registered direct transaction (the Termination Agreement). to the
terms of the Termination Agreement, the Company agreed, among
other things, to reprice the 2016 Warrants to an exercise price
equal to $1.65 per share (the Reduced Exercise Price). In
connection therewith, the Company received acceptance of the
reprice offer (the Acceptance) from two holders on June 23, 2017
and entered into Warrant Exercise Agreements (the Exercise
Agreement) with both holders of the 2016 Warrants (the Exercising
Holders), which Exercising Holders own, in the aggregate, 2016
Warrants exercisable for 265,303 shares of Common Stock. to the
Acceptance and the Exercise Agreements, the Exercising Holders
and the Company agreed that the Exercising Holders would exercise
their 2016 Warrants with respect to 265,303 shares of Common
Stock underlying such 2016 Warrants for the Reduced Exercise
Price.
The Company expects to receive aggregate gross proceeds of
approximately $437,750 from the exercise of the 2016 Warrants by
the Exercising Holders.
The description of terms and conditions of the Exercise
Agreements set forth herein do not purport to be complete and are
qualified in their entirety by reference to the full text of the
form of Exercise Agreement, which is attached hereto as Exhibit
10.1.
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Item 3.03 |
Material Modifications to Rights of Security |
The information contained above in Item 1.01 is hereby
incorporated by reference into this Item 3.03.
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Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit No. |
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Description |
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10.1 |
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Form of Warrant Exercise Agreement |
Celsion CORP ExhibitEX-10.1 2 ex10-1.htm EXHIBIT 10.1 ex10-1.htm Exhibit 10.1 [ ],…To view the full exhibit click here About CELSION CORPORATION (NASDAQ:CLSN)
Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study). Its pipeline also includes GEN-1, a deoxyribonucleic acid (DNA) mediated immunotherapy for the localized treatment of ovarian and brain cancers. It has over three platform technologies for the development of treatments for those suffering with difficult-to-treat forms of cancer, including Lysolipid Thermally Sensitive Liposomes, a heat sensitive liposomal based dosage form that targets disease with known therapeutics in the presence of mild heat; TheraPlas, a nucleic acid-based treatment for local transfection of therapeutic plasmids, and TheraSilence, a systemic dosage form for lung directed anti-cancer ribonucleic acid (RNA).