John Schutte - 09 Jun 2021 Form 4 Insider Report for ACURA PHARMACEUTICALS, INC (ACUR)

Role
10%+ Owner
Signature
/s/ John Schutte
Issuer symbol
ACUR
Transactions as of
09 Jun 2021
Transactions value $
$0
Form type
4
Filing time
28 Jun 2021, 10:53:40 UTC
Previous filing
21 May 2021
Next filing
21 Jun 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACUR Common Stock Conversion of derivative security $6,877,500 +42,984,375 $0.16 42,984,375 09 Jun 2021 By Abuse Deterrent Pharma, LLC F1
holding ACUR Common Stock 8,912,655 09 Jun 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ACUR Convertible Promissory Note Conversion of derivative security -$6,877,500 0 09 Jun 2021 Common Stock 42,984,375 $0.16 By Abuse Deterrent Parma, LLC F1, F2, F3
holding ACUR Warrant to Purchase Common Stock 1,782,531 09 Jun 2021 Common Stock 1,782,531 $0.528 Direct
holding ACUR Warrant to Purchase Common Stock 10,000,000 09 Jun 2021 Common Stock 10,000,000 $0.01 By Abuse Deterrent Parma, LLC F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person is the manager and a member of AD Pharma. The Reporting Person hereby disclaims beneficial ownership of the securities, except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F2 On the conversion date, $6,000,000 of principal and $877,500 of interest under the note was converted into the Issuer's common stock. For each $0.16 converted, AD Pharma received one share of common stock.
F3 This note is convertible, at the election of AD Pharma, at any time prior to repayment of the note and matures on July 1, 2023.