Acura Pharmaceuticals : AMENDED, CONSOLIDATED AND RESTATED SECURED PROMISSORY NOTE - Form 8-K
December 21, 2023 at 05:03 pm
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AMENDED, CONSOLIDATED AND RESTATED
SECURED PROMISSORY NOTE
This AMENDMENT #1 (this "Amendment") TO AMENDED, CONSOLIDATED AND RESTATED SECURED PROMISSSORY NOTE (the "Note") dated November 10, 2022 between Acura Pharmaceuticals, Inc. ("Acura"), a New York corporation, having a place of business at 616 N. North Court, Suite 120, Palatine, IL 60067, and Abuse Deterrent Pharma, LLC ("AD Pharma"), a Kentucky limited liability company, having a place of business at 333 E. Main Street, Suite 220, Louisville, Kentucky 40202, is made as of December 7, 2023.
RECITALS
WHEREAS, the Parties desire to amend the Note to change the Maturity Date of this Note.
NOW THEREFORE, in consideration of the mutual covenants and promises contained in the Note, as amended, and this Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Acura and AD Pharma agree as follows:
ARTICLE 1
AMENDMENT TO AGREEMENT
1.1 "Maturity Date" is hereby amended and replaced in its entirety as follows:
The Company agrees to pay the principal sum of this Note and interest on the unpaid principal sum of this Note on March 31, 2024 (the "Maturity Date"). Time shall be of the essence with respect to all of the Company's obligations under this Note.
2.1 Amendments. Except as expressly amended by this Amendment #1, the Note shall remain unmodified and in full force and effect.
IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be executed in their names by their properly and duly authorized officers or representatives as of the date first written above.
Acura Pharmaceuticals Inc. published this content on 21 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2023 17:02:35 UTC.
Acura Pharmaceuticals, Inc. is a drug delivery company engaged in the research, development, and commercialization of technologies and products to address the safe use of medications. Its platform technologies include LIMITX Technology, AVERSION Technology, and IMPEDE Technology. Its LIMITX Technology is designed to minimize the risks and side effects associated with overdose by retarding the release of active drug ingredients when too many tablets are accidentally or purposefully ingested. The LIMITX Technology is in development with hydrocodone bitartrate and acetaminophen (also known as LTX-03) as the lead product candidates. Its AVERSION Technology is to address methods of product tampering associated with opioid abuse by incorporating gelling ingredients and irritants into tablets to discourage abuse by snorting and provide barriers to abuse by injection. Its IMPEDE Technology is directed at minimizing the extraction and conversion of pseudoephedrine tablets into methamphetamine.