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home / news releases / ACER - Acer Therapeutics CEO infuses $1M into company in exchange for promissory note

ACER - Acer Therapeutics CEO infuses $1M into company in exchange for promissory note

Acer Therapeutics Inc.

2023-06-26 12:39:40 ET

  • Pharmaceutical company Acer Therapeutics ( NASDAQ: ACER ) said on Monday that CEO and Founder Christopher Schelling has infused $1M into the company in exchange for a promissory note.
  • The company has issued a $1M unsecured, subordinated promissory note to Schelling, who currently owns more than 10% of the outstanding shares.
  • The promissory note carries an interest rate of 6% per annum, and matures on Aug. 21.
  • The funding is expected to be used to extend the company's cash runway into early Q3.
  • Source: Press Release

For further details see:

Acer Therapeutics CEO infuses $1M into company in exchange for promissory note
Stock Information
Company Name: Acer Therapeutics Inc.
Stock Symbol: ACER
Market: NASDAQ
Website: acertx.com
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