Company: HRTX
Filing Date: 2025-09-09
Form Type: S-3
Source: 0000950170-25-113830
Chunk: 42

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-09-09
Form: S-3
Chunk 42
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 for an aggregate purchase price of $35.0 million pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act. The Convertible Note Issuance provides for (i) a maturity date of March 1, 2031, (ii) a 5% original issuance discount, (iii) 5% per annum interest payable in cash, (iv) the right to pay interest in kind for the first twelve months at a 7% rate, and (v) conversion into Common

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Stock at $1.80 per share, subject to Stockholder Approval. The Note Purchase Agreement contains customary representations and warranties, agreements and obligations and termination provisions. The Convertible Note Issuance closed on August 12, 2025.

Private Placement

On August 8, 2025, we entered into the Purchase Agreement with the purchasers party thereto, in connection with a private placement of (i) 13,225,227 unregistered shares of Common Stock at a purchase price of $1.50 per share and (ii) 524,141 unregistered shares of Series A Convertible Preferred Stock, which shall automatically convert upon Stockholder Approval into 5,241,410 shares of Common Stock, at a conversion price of $1.50 per share (stated value of $15.00 per share) for an aggregate investment amount of approximately $27.7 million. The Purchase Agreement contains customary representations and warranties, agreements and obligations and termination provisions. The issuance of the shares of Common Stock and Series A Convertible Preferred Stock in the Private Placement was made in reliance on the exemption from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D under the Securities Act. The Private Placement closed on August 12, 2025.

We intend to seek Stockholder Approval pursuant to the applicable rules of the Nasdaq Stock Market to approve the conversion of the Notes and the Series A Convertible Preferred Stock into Common Stock. We have filed a preliminary proxy statement for such Stockholder Approval within thirty (30) calendar days of August 12, 2025, as required under the Note Purchase Agreement and the Purchase Agreement.

Certain Provisions Affecting Control of Heron Therapeutics

Certificate of Incorporation and Bylaw Provisions.Some provisions of Delaware law and our certificate of incorporation and bylaws contain provisions that could make the following transactions more difficult:

acquisition of us by means of a tender