Acura Pharmaceuticals, Inc. announced a private placement of loan for gross processed of $250,000 on March 14, 2024. The transaction included participation from returning lender, Abuse Deterrent Pharma, LLC. The company issued a secured promissory note.

The note bears interest at 5.25%, and matures on March 31, 2024, at which time all principal and interest is due. Events of default under the note include, among other items, bankruptcy events, failure to pay interest and principal when due and such failure continues for 5 days, and if company is generally not, or is unable to, or admits in writing its inability to, pay its debts as they become due. If any amount payable hereunder is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration, or otherwise, including upon an event of default, such overdue amount shall bear interest at the rate per annum of 7.5% from the date of such non-payment until such amount is paid in full.

The company has received a total of $5,419,279.