UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On March 13, 2024, Lipella Pharmaceuticals Inc. (the “Company”) entered into Affiliate Stock Purchase Agreements (the “Agreements”) with each of Jonathan H. Kaufman, the Company’s Chief Executive Officer and Chairman of its board of directors, and Michael B. Chancellor, the Company’s Chief Medical Officer and a member of its board of directors, pursuant to which each of Drs. Kaufman and Chancellor purchased $100,000 of shares of common stock of the Company, par value $0.0001 per share (the “Common Stock”), in cash from the Company at $0.6901 per share, based on the official closing price of The Nasdaq Stock Market LLC for the Common Stock on March 13, 2024, resulting in the issuance of 144,906 shares of Common Stock to each of Drs. Kaufman and Chancellor. The Agreements contain customary representations, and warranties for transactions of this type.
The forgoing descriptions of the Agreements are qualified in their entirety by reference to the full text of each such agreement, which are filed hereto as Exhibits 10.1 and 10.2, and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Affiliate Stock Purchase Agreement, dated as of March 13, 2024, by and between the Company and Jonathan Kaufman. | |
| 10.2 | Affiliate Stock Purchase Agreement, dated as of March 13, 2024, by and between the Company and Michael Chancellor. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: March 15, 2024 | Lipella Pharmaceuticals Inc. | ||
| By: | /s/ Jonathan Kaufman | ||
Name: Jonathan Kaufman Title: Chief Executive Officer |
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