Company: HRTX
Filing Date: 2025-08-08
Form Type: 8-K
Source: 0000950170-25-105474
Chunk: 2

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-08-08
Form: 8-K
Item: Item 1.01
Chunk 2
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227 unregistered shares of the Company’s Common Stock and (ii) 524,141 unregistered shares of the Company’s Series A Convertible Preferred Stock, par value $0.01 per share, which shall automatically convert upon Stockholder Approval (as defined below) into 5,241,410 shares of Common Stock (the “ Preferred Stock” and together with the Common Stock, the “ Private Shares”), in a private placement at a purchase price of $1.50 per share (the “ Purchase Price”) for an aggregate investment amount of approximately $27.7 million (the “ Private Placement”). The Purchase Agreement contains customary representations and warranties, agreements and obligations and termination provisions. The issuance of the Private Shares in the Private Placement described above was made in reliance on the exemption from registration afforded under Section 4(a)(2) of the Securities Act of 1933, as amended (the “ Securities Act”) and/or Rule 506 of Regulation D under the Securities Act. The Private Placement is expected to close on August 12, 2025, subject to other customary closing conditions.

The Company intends to use the proceeds from the Private Placement for working capital and general corporate purposes. The Company’s management will retain broad discretion over the allocation of the net proceeds.

The Company intends to seek stockholder approval (the “ Stockholder Approval”) pursuant to the applicable rules of the Nasdaq Stock Market to approve the conversion of the Convertible Note Issuance and the Preferred Stock into Common Stock. The Company will file a preliminary proxy statement for such Stockholder Approval within thirty (30) days of Closing. In addition, the Company has agreed to file a resale registration statement within thirty (30) days of Closing to register the shares of Common Stock to be issued in connection with the transactions described above.

A copy of each of the Second Amendment, the Exchange Agreement, the 2031 Note Purchase Agreement and the Purchase Agreement will be filed as an amendment to this report on Form 8-K or with a new Form 8-K. The foregoing descriptions of the Second Amendment, the Exchange Agreement, the 2031 Note Purchase Agreement and the Purchase Agreement do not purport to be complete and are qualified in their entirety by reference to such exhibits. The provisions of the foregoing agreements, including the representations and warranties contained therein, are not for the benefit of any party other than the parties to such agreement and are not intended as a document for investors and the public to obtain factual information about the current state of affairs of the Company. Rather, investors and