[SCHEDULE 13D] Processa Pharmaceuticals, Inc. Common SEC Filing
Processa Pharmaceuticals (Common Stock) disclosure shows HX Entertainment Ltd acquired 5,467,181 shares, representing approximately 10.9% of the outstanding common stock, for an aggregate purchase price of about $1,243,784 at roughly $0.2275 per share. The shares were acquired under a Securities Purchase Agreement as restricted securities and HX reports sole voting and dispositive power over all shares. HX states funds came from its working capital and investment funds, with no borrowing or pledging of issuer securities. HX describes the purchase as a strategic investment and reserves the right to acquire or dispose of additional securities, engage with management or the board, seek board representation, or propose changes to the issuer's capitalization or strategy, including its cryptocurrency treasury initiatives.
Processa Pharmaceuticals (Azioni Ordinarie) la comunicazione mostra che HX Entertainment Ltd ha acquisito 5,467,181 azioni, pari a circa 10.9% delle azioni ordinarie in circolazione, per un prezzo complessivo di circa $1,243,784 a circa $0.2275 per azione. Le azioni sono state acquistate ai sensi di un contratto di acquisto di titoli (Securities Purchase Agreement) come titoli soggetti a restrizioni e HX dichiara di detenere pieno potere esclusivo di voto e di disposizione su tutte le azioni. HX afferma che i fondi provenivano dal suo capitale circolante e da fondi di investimento, senza ricorso a prestiti né impegno di titoli dell'emittente. HX descrive l'acquisto come un investimento strategico e si riserva il diritto di acquisire o disporre ulteriori titoli, interagire con la direzione o il consiglio di amministrazione, cercare una rappresentanza in consiglio o proporre modifiche alla capitalizzazione o alla strategia dell'emittente, incluse le iniziative di tesoreria in criptovalute.
Processa Pharmaceuticals (Acciones Ordinarias) la divulgación muestra que HX Entertainment Ltd adquirió 5,467,181 acciones, que representan aproximadamente el 10.9% del capital social en circulación, por un precio total de alrededor de $1,243,784 a aproximadamente $0.2275 por acción. Las acciones se adquirieron bajo un contrato de compra de valores (Securities Purchase Agreement) como valores restringidos y HX informa tener poder exclusivo de voto y de disposición sobre todas las acciones. HX indica que los fondos provinieron de su capital de trabajo y de fondos de inversión, sin préstamo ni pignoración de valores del emisor. HX describe la compra como una inversión estratégica y se reserva el derecho a adquirir o disponer de valores adicionales, relacionarse con la dirección o el consejo, buscar representación en el consejo o proponer cambios en la capitalización o la estrategia del emisor, incluidas sus iniciativas de tesorería en criptomonedas.
Processa Pharmaceuticals (보통주) 공시에 따르면 HX Entertainment Ltd는 5,467,181주를 취득했으며 이는 발행된 보통주의 약 10.9%에 해당하고 총 취득대금은 약 $1,243,784, 주당 약 $0.2275입니다. 해당 주식은 증권 매매계약(Securities Purchase Agreement)에 따라 제한된 증권으로 취득되었으며 HX는 모든 주식에 대해 단독 의결권 및 처분권을 보유하고 있다고 보고했습니다. HX는 자금이 운전자금과 투자펀드에서 조달되었으며 차입이나 발행사 증권의 담보 설정은 없었다고 밝혔습니다. HX는 이번 취득을 전략적 투자로 설명하면서 추가 증권의 취득·처분, 경영진 또는 이사회와의 교류, 이사회 진출 모색, 발행사의 자본구조나 전략(암호화폐 관련 재무 이니셔티브 포함)에 대한 변경 제안을 할 권리를 보유한다고 밝혔습니다.
Processa Pharmaceuticals (Actions Ordinaires) la divulgation indique que HX Entertainment Ltd a acquis 5,467,181 actions, représentant environ 10.9% des actions ordinaires en circulation, pour un prix d'achat total d'environ $1,243,784 à environ $0.2275 par action. Les actions ont été acquises en vertu d'un contrat d'achat de titres (Securities Purchase Agreement) en tant que titres restreints et HX déclare détenir le pouvoir exclusif de vote et de disposition sur toutes les actions. HX indique que les fonds provenaient de sa trésorerie d'exploitation et de fonds d'investissement, sans emprunt ni nantissement de titres de l'émetteur. HX décrit cet achat comme un investissement stratégique et se réserve le droit d'acquérir ou de céder des titres supplémentaires, d'entrer en relation avec la direction ou le conseil d'administration, de rechercher une représentation au conseil ou de proposer des modifications de la capitalisation ou de la stratégie de l'émetteur, y compris ses initiatives de trésorerie en cryptomonnaies.
Processa Pharmaceuticals (Stammaktien) legt offen, dass HX Entertainment Ltd 5,467,181 Aktien erworben hat, was etwa 10.9% der ausstehenden Stammaktien entspricht, zu einem Gesamtkaufpreis von rund $1,243,784 bei etwa $0.2275 je Aktie. Die Aktien wurden im Rahmen eines Wertpapierkaufvertrags (Securities Purchase Agreement) als eingeschränkte Wertpapiere erworben und HX berichtet, über alleinige Stimm- und Verfügungsrechte für alle Aktien zu verfügen. HX gibt an, dass die Mittel aus Betriebskapital und Investmentfonds stammten, ohne Aufnahme von Fremdmitteln oder Verpfändung von Wertpapieren des Emittenten. HX beschreibt den Erwerb als strategische Investition und behält sich das Recht vor, zusätzliche Wertpapiere zu erwerben oder zu veräußern, mit dem Management oder dem Board in Kontakt zu treten, eine Vertretung im Board anzustreben oder Änderungen an der Kapitalstruktur oder Strategie des Emittenten vorzuschlagen, einschließlich seiner Krypto-Treasury-Initiativen.
- Material stake: HX Entertainment acquired 5,467,181 shares (10.9%), a substantial minority ownership position.
- Clear funding: Purchase funded from HX's working capital and investment funds with no borrowing and no pledge of issuer securities.
- Sole control: HX reports sole voting and dispositive power over all shares acquired, enabling decisive shareholder action if pursued.
- Strategic alignment: HX cites interest in the issuer's cryptocurrency treasury initiatives, aligning with HX's blockchain expertise.
- Restricted securities: The shares were acquired as restricted securities, which may limit immediate liquidity or resale.
- Potential for activist actions: HX states it may seek board representation or propose changes to capitalization or strategy, introducing governance uncertainty.
- No disclosed arrangements: Item 6 lists no contracts or arrangements and Item 7 lists no exhibits, so there is no public agreement defining any cooperation with Processa.
Insights
TL;DR: A material 10.9% stake and sole voting power make HX a significant strategic investor with potential to affect company value and market perception.
The filing documents a substantial minority stake acquired via a Securities Purchase Agreement: 5,467,181 shares for about $1.24M at ~$0.2275 per share, funded from HX's working capital and investment funds with no leverage. From a financial perspective, a >10% position with sole voting/dispositive control is material and may change investor expectations about future corporate actions. The statement of potential actions (additional purchases, board representation, strategic proposals) signals active monitoring and the possibility of engagement that could affect liquidity, governance, and strategic direction.
TL;DR: The investor's explicit option to seek board representation and propose structural changes raises governance considerations for Processa's board and shareholders.
The schedule discloses HX's intent to evaluate and possibly pursue board representation or propose changes to capitalization, ownership, and strategy. Item 6 reports no contracts or arrangements, and Item 7 lists no exhibits, so there is no disclosed agreement governing cooperation or governance changes. The combination of a sizable, openly strategic stake and sole voting power requires the board to consider engagement protocols, disclosure practices, and potential responses to any formal proposals from HX.
Processa Pharmaceuticals (Azioni Ordinarie) la comunicazione mostra che HX Entertainment Ltd ha acquisito 5,467,181 azioni, pari a circa 10.9% delle azioni ordinarie in circolazione, per un prezzo complessivo di circa $1,243,784 a circa $0.2275 per azione. Le azioni sono state acquistate ai sensi di un contratto di acquisto di titoli (Securities Purchase Agreement) come titoli soggetti a restrizioni e HX dichiara di detenere pieno potere esclusivo di voto e di disposizione su tutte le azioni. HX afferma che i fondi provenivano dal suo capitale circolante e da fondi di investimento, senza ricorso a prestiti né impegno di titoli dell'emittente. HX descrive l'acquisto come un investimento strategico e si riserva il diritto di acquisire o disporre ulteriori titoli, interagire con la direzione o il consiglio di amministrazione, cercare una rappresentanza in consiglio o proporre modifiche alla capitalizzazione o alla strategia dell'emittente, incluse le iniziative di tesoreria in criptovalute.
Processa Pharmaceuticals (Acciones Ordinarias) la divulgación muestra que HX Entertainment Ltd adquirió 5,467,181 acciones, que representan aproximadamente el 10.9% del capital social en circulación, por un precio total de alrededor de $1,243,784 a aproximadamente $0.2275 por acción. Las acciones se adquirieron bajo un contrato de compra de valores (Securities Purchase Agreement) como valores restringidos y HX informa tener poder exclusivo de voto y de disposición sobre todas las acciones. HX indica que los fondos provinieron de su capital de trabajo y de fondos de inversión, sin préstamo ni pignoración de valores del emisor. HX describe la compra como una inversión estratégica y se reserva el derecho a adquirir o disponer de valores adicionales, relacionarse con la dirección o el consejo, buscar representación en el consejo o proponer cambios en la capitalización o la estrategia del emisor, incluidas sus iniciativas de tesorería en criptomonedas.
Processa Pharmaceuticals (보통주) 공시에 따르면 HX Entertainment Ltd는 5,467,181주를 취득했으며 이는 발행된 보통주의 약 10.9%에 해당하고 총 취득대금은 약 $1,243,784, 주당 약 $0.2275입니다. 해당 주식은 증권 매매계약(Securities Purchase Agreement)에 따라 제한된 증권으로 취득되었으며 HX는 모든 주식에 대해 단독 의결권 및 처분권을 보유하고 있다고 보고했습니다. HX는 자금이 운전자금과 투자펀드에서 조달되었으며 차입이나 발행사 증권의 담보 설정은 없었다고 밝혔습니다. HX는 이번 취득을 전략적 투자로 설명하면서 추가 증권의 취득·처분, 경영진 또는 이사회와의 교류, 이사회 진출 모색, 발행사의 자본구조나 전략(암호화폐 관련 재무 이니셔티브 포함)에 대한 변경 제안을 할 권리를 보유한다고 밝혔습니다.
Processa Pharmaceuticals (Actions Ordinaires) la divulgation indique que HX Entertainment Ltd a acquis 5,467,181 actions, représentant environ 10.9% des actions ordinaires en circulation, pour un prix d'achat total d'environ $1,243,784 à environ $0.2275 par action. Les actions ont été acquises en vertu d'un contrat d'achat de titres (Securities Purchase Agreement) en tant que titres restreints et HX déclare détenir le pouvoir exclusif de vote et de disposition sur toutes les actions. HX indique que les fonds provenaient de sa trésorerie d'exploitation et de fonds d'investissement, sans emprunt ni nantissement de titres de l'émetteur. HX décrit cet achat comme un investissement stratégique et se réserve le droit d'acquérir ou de céder des titres supplémentaires, d'entrer en relation avec la direction ou le conseil d'administration, de rechercher une représentation au conseil ou de proposer des modifications de la capitalisation ou de la stratégie de l'émetteur, y compris ses initiatives de trésorerie en cryptomonnaies.
Processa Pharmaceuticals (Stammaktien) legt offen, dass HX Entertainment Ltd 5,467,181 Aktien erworben hat, was etwa 10.9% der ausstehenden Stammaktien entspricht, zu einem Gesamtkaufpreis von rund $1,243,784 bei etwa $0.2275 je Aktie. Die Aktien wurden im Rahmen eines Wertpapierkaufvertrags (Securities Purchase Agreement) als eingeschränkte Wertpapiere erworben und HX berichtet, über alleinige Stimm- und Verfügungsrechte für alle Aktien zu verfügen. HX gibt an, dass die Mittel aus Betriebskapital und Investmentfonds stammten, ohne Aufnahme von Fremdmitteln oder Verpfändung von Wertpapieren des Emittenten. HX beschreibt den Erwerb als strategische Investition und behält sich das Recht vor, zusätzliche Wertpapiere zu erwerben oder zu veräußern, mit dem Management oder dem Board in Kontakt zu treten, eine Vertretung im Board anzustreben oder Änderungen an der Kapitalstruktur oder Strategie des Emittenten vorzuschlagen, einschließlich seiner Krypto-Treasury-Initiativen.
FAQ
How many Processa (PCSA) shares did HX Entertainment acquire and what percent of the company does that represent?
What was the purchase price HX Entertainment paid per share and the aggregate cost for the PCSA acquisition?
How were the PCSA shares funded by HX Entertainment?
Does HX Entertainment have voting control over the PCSA shares it bought?
Did HX Entertainment acquire the PCSA shares under any specific agreement or file related exhibits?
