Ritter Pharmaceuticals Inc (RTTR)

[rawsteel]

https://ih.advfn.com/stock-market/NASDAQ/ritter-pharmaceuticals-RTTR/stock-news/81964583/current-report-filing-8-k



On March 10, 2020, Ritter Pharmaceuticals, Inc. (the “Company”) entered into private exchange agreements with certain holders (the “Warrant Holders”) of warrants issued in connection with the Company’s October 2018 private offering of common stock and warrants (the “Warrants”). The Warrants being exchanged provide for the purchase of up to an aggregate of 826,919 shares of the Company’s common stock at an exercise price of $1.30, with an expiration date of October 30, 2023. Pursuant to such exchange agreements, the Company agreed to issue 826,919 shares of common stock to the Warrant Holders in exchange for such Warrants on a 1:1 basis.



The exchanges are being consummated as part of an ongoing effort to satisfy a closing condition of the Agreement and Plan of Merger (as amended, the “Merger Agreement”), by and between the Company, RG28 Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company, and Qualigen, Inc. (“Qualigen”), previously described in a Current Report on Form 8-K filed with the Securities and Exchange Commission on January 21, 2020.



The description of the exchange agreements is qualified in its entirety by reference to the full and complete terms of such agreements, in substantially the form that was filed as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on February 21, 2020 and incorporated herein by reference.