Immune Therapeutics, Inc. (OTCMKTS:IMUN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
Securities Purchase Agreement
On May 1, 2017 (Effective Date), Immune Therapeutics, Inc. (the
Company) entered into a Securities Purchase Agreement (SPA) with
Ira Gaines (Investor). to the SPA, the Company agreed to sell
Investor up to $1,000,000 in common shares at three cents ($0.03)
per share (sale price). Investor purchased 10,000,000 shares for
$300,000.
Warrant to Purchase Shares of Common Stock
On May 1, 2017, the Company also issued Investor a Warrant to
Purchase Shares of common stock.
The terms of the Warrant provide that the Investor may surrender
the Warrant to purchase from the Company 1,500,000 fully paid and
non-assessable shares of the Companys common stock, par value
$0.0001 per share. The exercise price for the shares of common
stock, issued to the Warrant, is fifteen cents ($0.15) per share.
The Warrant is exercisable from May 1, 2017 through May 1, 2022.
Item 3.02 Unregistered Sales of Equity
Securities
Please see Item 1.01, incorporated herein by reference, for
discussion relating to the issuance of shares to the SPA and the
Warrant. These securities were issued to the exemption in Section
4(a)(2) of the Securities Act of 1933.
About Immune Therapeutics, Inc. (OTCMKTS:IMUN)
Immune Therapeutics, Inc. is a biotechnology company. The Company is involved in the manufacturing, distribution and marketing of therapies to combat chronic, life-threatening diseases through the activation and modulation of the body’s immune system using its patented immunotherapy. The Company’s products and immunotherapy technologies are designed to improve the treatment of cancer, infections, such as human immunodeficiency virus (HIV)/acquired immuno deficiency syndrome (AIDS), chronic inflammatory diseases and autoimmune diseases. Its technology platform is built on various immunotherapies, such as Low Dose Naltrexone (LDN) and Methionine-Enkephalin (MENK). Its technology offers treatment for a range of cancers. The Company’s clinical programs involve immunotherapy with Methionine-Enkephalin (MENK) (sometimes referred to as opioid growth factor) and its Low Dose Naltrexone (LDN) product or LodonalTM, which stimulates the immune system even in patients with advanced cancer. Immune Therapeutics, Inc. (OTCMKTS:IMUN) Recent Trading Information
Immune Therapeutics, Inc. (OTCMKTS:IMUN) closed its last trading session up +0.0007 at 0.0637 with 212,415 shares trading hands.
