ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On
The Note provides that, the Company shall have the right to prepay the Note for
an amount equal to 125% multiplied by the portion of the Outstanding Balance (as
defined in the Note) being prepaid. Beginning on the date that is six months
after the Closing Date, the Lender has the right to redeem any amount of the
Note up to
The Company relied on the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended, in connection with the issuance and sale of the Note.
The foregoing descriptions of the Purchase Agreement and the Note are not complete and are qualified in their entireties by reference to the full text of the Purchase Agreement and Note, copies of which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.
ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
Reference is made to the disclosure under Item 1.01 above which is hereby incorporated in this Item 2.03 by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits Exhibit Description 10.1 Securities Purchase Agreement between the Company and Atlas Sciences, LLC, datedDecember 30, 2019 10.2 Promissory Note from the Company toAtlas Sciences, LLC , datedDecember 30, 2019 1
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