Item 1.01 Entry into Material Definitive Agreement.
On September 1, 2020, Rexahn Pharmaceuticals, Inc. (the "Company") entered into
a Warrant Exchange Agreement (the "Agreement") with Anson Investments Master
Fund LP ("Anson"). The Company previously issued to Anson (a) a warrant to
purchase 62,500 shares (on a post-reverse stock split basis) of its common
stock, par value $.0001 per share (the "Common Stock") pursuant to the offering
described in the Company's Current Report on Form 8-K filed with the Securities
and Exchange Commission ("SEC") on September 14, 2016 (the "2016 Warrant"), (b)
a warrant to purchase 44,192 shares (on a post-reverse stock split basis) of
Common Stock pursuant to the offering described in the Company's Current Report
on Form 8-K filed with the SEC on June 7, 2017 (the "2017 Warrant"), (c) a
warrant to purchase 160,257 shares (on a post-reverse stock split basis) of
Common Stock pursuant to the offering described in the Company's Current Report
on Form 8-K filed with the SEC on October 19, 2018 (the "2018 Warrant"), and (d)
warrants to purchase an aggregate of 145,502 shares (on a post-reverse stock
split basis) of Common Stock pursuant to the offering described in the Company's
Current Report on Form 8-K filed with the SEC on January 25, 2019 (the "2019
Warrants" and together with the 2016 Warrant, the 2017 Warrant and the 2018
Warrant, the "Warrants"). Pursuant to the Agreement, on September 1, 2020, the
Company issued to Anson an aggregate of 192,878 shares of Common Stock in
exchange for the surrender and cancellation of the Warrants.
The above summary of the Agreement does not purport to be complete and is
qualified in its entirety to the full text of the Agreement, which is filed as
Exhibit 10.1 to this Current Report on Form 8-K and is qualified herein by this
reference.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosures set forth above under Item 1.01 are incorporated herein by
reference. The issuance by the Company of the shares of Common Stock in exchange
for the surrender and cancellation of the Warrants is being made in reliance on
Section 3(a)(9) of the Securities Act of 1933, as amended.
Item 9.01 Financing Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
10.1* Warrant Exchange Agreement, dated September 1, 2020, by and between
Rexahn Pharmaceuticals, Inc. and Anson Investments Master Fund LP.
* Portions of this exhibit have been omitted in compliance with Item 601
of Regulation S-K.
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