Current Report Filing (8-k)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
August 27, 2020 (August 24, 2020)
Date of Report (Date of earliest event reported)
ELITE PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
or other jurisdiction of incorporation)
Employer Identification No.)
165 Ludlow Avenue, Northvale, New Jersey 07647
(Address of principal executive offices)
(Registrant’s telephone number, including area code)
|(Former name or former
address, if changed since last report.)
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 (see General Instruction A.2.
pursuant to Rule 425 under the Securities Act (17 CFR
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
Securities registered pursuant to Section 12(b) of the Act:
each exchange on which registered
|Common Stock, par
value $0.001 per share
Indicate by check mark whether the registrant is an emerging growth
company as defined in 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).
Emerging growth company ☐
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 3.02. Unregistered
Sales of Equity Securities.
On August 24, 2020, Nasrat Hakim, CEO of
Elite Pharmaceuticals, Inc. (the “Company”), converted his
24.03443452410 shares of Series J Preferred Stock into an aggregate
of 158,017,321 shares of the Company’s common stock pursuant to the
terms of the Series J Preferred Stock, at a conversion price of
$0.1521 per share of Common Stock.
The issuances of these shares of the
Company’s common stock were exempt from registration pursuant to
Sections 3(a)(9) and 4(a)(2) of the Securities Act of 1933, as
As a result of the conversion, there are
no more shares of the Company’s Series J Preferred
The terms of the Series J Preferred
Stock are disclosed in Note 10 to the Condensed Financial
Statements included in the Company’s Quarterly Report on Form 10-Q
for the three months ended June 30, 2020 filed with the Securities
and Exchange Commission on August 14, 2020 and are incorporated
herein by reference.
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.
August 27, 2020