UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D. C. 20549
____________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act Of 1934
Date
of
Report (Date of earliest event reported)
___________________________________________________________
ACURA
PHARMACEUTICALS, INC.
(Exact
Name of Registrant as Specified in Charter)
___________________________________________________________
|
State
of New York
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1-10113
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11-0853640
|
|
(State
of Other Jurisdiction
|
(Commission
File Number)
|
(I.R.S.
Employer
|
|
of
Incorporation)
|
|
Identification
Number)
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616
N. North Court, Suite 120
Palatine,
Illinois 60067
(Address
of principal executive offices) (Zip Code)
(847)
705-7709
(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 (see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d- 2(b))
o Pre-commencement
communications pursuant to Rule
13e-4(c) under the Exchange Act (17CFR 240.13e- 4(c))
Item
2.03 Creation
of a Direct Financial Obligation or an Obligation Under an Off Balance Sheet
Arrangement
On
May
17, 2007, the Registrant drew down the final $600,000 of a $1.2 million March,
2007 bridge funding commitment from Essex Woodlands Health Ventures V, L.P.,
Care Capital Investments II, L.P., Care Capital Offshore Investments II, L.P.,
Galen Partners III, L.P., Galen Partners International III, L.P. and Galen
Employee Fund III, L.P. (the “March 2007 Bridge Loan Commitment”). Previously,
the Registrant had drawn a total of $600,000 against the March 2007 Bridge
Loan
Commitment. Advances under the March 2007 Bridge Loan Commitment bear interest
at the rate of 10% per annum, are secured by a lien on all assets of the
Registrant and its subsidiary, mature on September 30, 2007 and are senior
to
all other of the Registrant’s debt. Including the $600,000 secured today, the
Registrant has a total of $9.94 million in bridge loans outstanding and due
on
September 30, 2007.
Item
8.01 Other
Events
On
May
18, 2007, the Registrant issued the press release attached hereto as Exhibit
99.1 in connection with the drawdown.
Item
9.01 Financial
Statements and Exhibits
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Exhibit
Number
|
Description
|
| |
|
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99.1
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Press
Release dated May 18, 2007 Announcing Draw Down of Bridge
Funding
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SIGNATURES
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 thereunto
duly authorized.
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ACURA
PHARMACEUTICALS, INC. |
|
|
|
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By: |
/s/ Peter
Clemens |
| |
Peter
A. Clemens |
| |
Senior
Vice President & Chief Financial
Officer |
Date: May
18,
2007
Exhibit
Index
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Exhibit
Number
|
Description
|
| |
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99.1
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Press
Release dated May 18, 2007 Announcing Draw Down of Bridge
Funding
|