Acura Pharmaceuticals Restructures Debt With $1.8 Million Loan

Acura Pharmaceuticals, Inc. (ACUR), a specialty pharmaceutical company focused on innovating abuse deterrent drugs, today announced that on October 5, 2018 we restructured our debt obligations by (a) receiving an additional $1.8 million loan from John Schutte and (b) retiring in full our senior secured debt with Oxford Finance for a payment of $1.5 million.  Mr. Schutte’s loans to the Company total $4.0 million. Pursuant to the terms of Mr. Schutte’s debt, after the retirement of the Oxford Finance debt, the Company is required to grant him a security interest in its assets.  The balance of Mr. Schutte’s loan will extend our operations into November 2018 while the Company remains focused on licensing its lead asset LTX-03. In the absence of closing a licensing agreement upon acceptable terms or securing additional funding, Acura will be required to scale back or terminate operations and/or seek protection under applicable bankruptcy laws.

Source : https://in.finance.yahoo.com/quote/ACUR/

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Acura Pharmaceuticals, Inc. (ACUR)
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Acura Pharmaceuticals, Inc. (ACUR)