PURE BIOSCIENCE, INC. 8-K

What Happened

• PURE Bioscience, Inc. (PURE) announced in an 8-K filed May 5, 2026 that it closed a private placement financing on April 30, 2026, raising $1.0 million.
• The Company issued 18,131,096 shares of common stock at $0.0553 per share under a Securities Purchase Agreement. Board member Tom Y. Lee invested approximately $700,000 (directly and via affiliates) and board member Ivan Chen invested $27,650. Disinterested directors approved the financing.

Key Details

• Amount raised: $1.0 million (net proceeds expected to be approximately $1.0 million after fees/expenses).
• Shares issued: 18,131,096 common shares at $0.0553 per share.
• Investors: Accredited investors relying on Section 4(a)(2) and Rule 506 of Regulation D; resale restrictions apply absent registration or exemption.
• Use of proceeds: General corporate purposes, including research & development, administrative expenses, and working capital.

Why It Matters

• The financing provides immediate cash to fund PURE’s operations and R&D without a public offering, which can help sustain near-term development and working capital needs.
• Related-party participation by two directors (Tom Y. Lee and Ivan Chen) was disclosed and the transaction was approved by disinterested directors, which is material for governance and investor transparency.
• The shares were issued in a private, unregistered sale, so they carry resale restrictions; investors should note potential dilution from the newly issued shares.