Business Context and Reporting Period
Cocrystal Pharma, Inc. filed a Form 8-K Current Report on September 2, 2016, regarding events occurring on September 1, 2016. The company is a Delaware corporation headquartered in Tucker, Georgia.
Key Financial Metrics
This filing reports a specific capital raising event rather than periodic financial performance metrics such as revenue, profit, or operating cash flow.
- Capital Raised: $4,008,201
- Shares Issued: 9,776,100 shares of common stock
- Price Per Share: $0.41
- Use of Proceeds: Working capital and general corporate purposes
The filing text does not provide clear values for revenue, profit margins, debt levels, or liquidity ratios outside of the proceeds from this offering.
Material Changes
The primary material change is the completion of a private placement offering of unregistered equity securities. This transaction resulted in a significant increase in the company's cash position and an expansion of its share count.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to utilize the net proceeds for working capital and general corporate purposes.
Investor Participation: The offering included three members of the Board of Directors (Chairman Dr. Raymond F. Schinazi, Interim CEO Dr. Gary Wilcox, and Dr. David Block) and OPKO Health, Inc. (led by Director Dr. Phillip Frost).
Regulatory Status: Securities were sold under Section 4(a)(2) of the Securities Act and Rule 506. They are restricted and may not be offered or sold in the U.S. without an effective registration statement or exemption.
Investor Verification Checklist
- Verify the total number of outstanding shares post-issuance to assess dilution impact.
- Confirm the specific allocation of the $4,008,201 proceeds in subsequent financial reports.
- Review the attached Securities Purchase Agreement (Exhibit 10.1) for any restrictive covenants or rights granted to the new investors.
- Monitor future filings for any registration statements required to make these shares publicly tradable.