Business Context and Reporting Period
Cocrystal Pharma, Inc. filed a Form 8-K Current Report on April 20, 2017, reporting a private placement offering of equity securities. The company is incorporated in Delaware and headquartered in Tucker, Georgia.
Key Financial Metrics
The filing details a capital raise rather than operational financial performance metrics such as revenue or profit.
- Proceeds Raised: $3,000,000
- Shares Issued: 12,500,000 shares of common stock
- Price Per Share: $0.24
- Number of Investors: 3 accredited investors
- Notable Investors: Chairman Dr. Raymond F. Schinazi and OPKO Health, Inc. (led by Director Dr. Phillip Frost)
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity positions outside of the proceeds from this specific transaction.
Material Changes
The primary material change is the increase in equity capital and the issuance of 12,500,000 new shares. The securities were sold under Section 4(a)(2) of the Securities Act of 1933 and Rule 506, with no general solicitation.
Guidance, Outlook, and Management Commentary
Management intends to use the net proceeds from the offering for working capital and general corporate purposes. The filing does not contain specific forward-looking guidance, risk factors, or contingencies beyond the standard restrictions on the resale of unregistered securities.
Investor Verification Checklist
- Verify the dilution impact of the 12,500,000 newly issued shares on existing shareholders.
- Confirm the relationship and potential conflicts of interest involving Chairman Dr. Raymond F. Schinazi and OPKO Health, Inc. as investors.
- Review the attached Securities Purchase Agreement (Exhibit 10.1) for specific terms and conditions of the investment.
- Monitor future filings for updates on how the $3,000,000 in working capital is deployed.