Company: HRTX
Filing Date: 2025-09-09
Form Type: PRE 14A
Source: 0000950170-25-113827
Chunk: 13

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-09-09
Form: PRE 14A
Chunk 13
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 Agreement”), the Company issued and sold (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 receipt of the requisite votes of the Company’s stockholders required to approve the issuance of the Common Stock to be issued upon conversion of the Series A Convertible Preferred Stock (the “Series A PreferredStockholderApproval”) into 5,241,410 shares of Common Stock, at a conversion price of $1.50 per share (stated value of $15.00 per share), subject to appropriate adjustments in the event of a stock split, stock dividend, combination or other recapitalization affecting the Common Stock, for an aggregate investment amount of approximately $27.7 million, pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D under the Securities Act. The Series A Convertible Preferred Stock will not be convertible into Common Stock until receipt of the Series A Preferred Stockholder Approval. Holders of the Series A Convertible Preferred Stock are entitled to dividends on an as-if converted basis in the same form as any dividends actually paid on shares of Common Stock or other securities of the Company. The shares of Series A Convertible Preferred Stock are convertible into shares of Common Stock at the conversion price in effect at the time of conversion, except that, subject to certain limited exceptions, no holder of Series A Convertible Preferred Stock may convert the Series A Convertible Preferred Stock if, after giving effect to the conversion, the holder and all affiliated persons would own beneficially more than 4.99% of Common Stock, subject to adjustment up to 9.99% or 19.99% solely at the holder’s discretion (the “Beneficial Ownership Limitation”); provided that in no event shall the Beneficial Ownership Limitation exceed 19.99% of the number of shares of the Company’s Common Stock issued and outstanding prior to such issuance. A holder may, upon notice to the Company, increase or decrease the Beneficial Ownership Limitation but any such increase will not be effective until the 61stday after such notice is delivered to the Company.

Stockholder Proposal

The Company is seeking the Series A Preferred Stockholder Approval to approve, under Nasdaq Listing Rule 5635(d), the issuance of a number of shares of the Company’s Common Stock upon the conversion of the