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Stock impact report

Acura Pharmaceuticals, Inc. Restructures Debt Obligations

ACURA PHARMS INC (ACUR) 
Last acura pharms inc earnings: 8/14 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.acurapharm.com/investor-relations
Company Research Source: GlobeNewswire
PALATINE, Ill., Oct. 09, 2018 (GLOBE NEWSWIRE) -- Acura Pharmaceuticals, Inc. (OTCQB: ACUR), a specialty pharmaceutical company focused on innovating abuse deterrent drugs, today announced that on October 5, 2018 we restructured our debt obligations by (a) receiving an additional $1.8 million loan from John Schutte and (b) retiring in full our senior secured debt with Oxford Finance for a payment of $1.5 million.  Mr. Schutte’s loans to the Company total $4.0 million. Pursuant to the terms of Mr. Schutte’s debt, after the retirement of the Oxford Finance debt, the Company is required to grant him a security interest in its assets.  The balance of Mr. Schutte’s loan will extend our operations into November 2018 while the Company remains focused on licensing its lead asset LTX-03. In the absence of closing a licensing agreement upon acceptable terms or securing additional funding, Acura will be required to scale back or terminate operations and/or seek protection under applicable ban Show less Read more
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