UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
(Address of Principal Executive Offices)
(
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01. | Other Events. |
On July 21, 2023, Journey Medical Corporation (the “Company”) voluntarily repaid approximately $10 million of principal, plus accrued interest and fees, under the Loan and Security Agreement, dated March 31, 2021 (as amended, the “EWB Credit Agreement”), between the Company, its subsidiary JG Pharma, Inc., and East West Bank (“EWB”). The repayment satisfied all of the Company’s outstanding debt obligations under the EWB Credit Agreement, and resulted in an automatic termination of the EWB Credit Agreement pursuant to the terms thereof. The Company did not incur any prepayment fees or penalties as a result of the foregoing transactions.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Journey Medical Corporation | ||
(Registrant) | ||
Date: July 26, 2023 | ||
By: | /s/ Claude Maraoui | |
Claude Maraoui | ||
Chief Executive Officer, President and Director | ||
Cover |
Jul. 21, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jul. 21, 2023 |
Entity File Number | 001-41063 |
Entity Registrant Name | Journey Medical Corporation |
Entity Central Index Key | 0001867066 |
Entity Tax Identification Number | 47-1879539 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 9237 E Via de Ventura Blvd. |
Entity Address, Address Line Two | Suite 105 |
Entity Address, City or Town | Scottsdale |
Entity Address, State or Province | AZ |
Entity Address, Postal Zip Code | 85258 |
City Area Code | 480 |
Local Phone Number | 434-6670 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | DERM |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
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