October 09, 2021 - No Comments!

Stock Purchase Agreement Private Placement

A private placement is a sale of shares to a limited number of accredited investors who meet certain criteria. The criteria for accredited status include a certain degree of investment experience, assets and net assets. Investors will receive a private placement memorandum as an alternative to the prospectus. The memorandum contains a less complete description of the investment. This press release may contain certain statements regarding future results, which are forward-looking statements. These statements are not historical facts, but only CytRx`s faith with respect to future events, many of which are inherently uncertain and beyond CytRx`s control. These statements involve risks and uncertainties that may cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks and uncertainties regarding Orphazyme`s ability to obtain, produce and market administrative approval for its products and therapies using arimoclomol; the results of clinical trials of arimoclomol; if applicable, the amount of future milestone and license payments we may receive from Orphazyme; and other risks and uncertainties described in CytRx`s most recent annual and quarterly reports to the SEC, including information under the heading “Risk Factors” and current reports submitted since the date of CytRx`s last annual report. All forward-looking statements are based on information available to CytRx at the time the statements were first released. The CytRx assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or other reasons. (ii) on the closing date of the option to purchase additional shares, if any, in connection with the public offer or on an earlier date and date that may be mutually agreed between the purchaser and the entity (each of these data, an option closing date and each option closing date (if any) and the closing date of the IPO, B. a closing date), the Company will have up to 105,000 private placement shares (or, if the additional stock option is not fully exercised, a reduced number of private shares compared to the portion of the option exercised) at a price of $10.00 per private placement share, at a total purchase price of up to $1,050,000 (the optional purchase price). Buyer pays the purchase price of the option in accordance with the entity`s transfer instructions by paying the immediately available funds into the trust account, at least one (1) business day prior to the closing date of the option. On each closing date of the option (if any), subject to receipt of funds in accordance with the immediately preceding rate, the Company shall, at its option, issue a certificate proving the private placement shares acquired on that day and duly registered in the name of the Buyer, or issue such delivery in book form.

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