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LIXT > SEC Filings for LIXT > Form 8-K on 18-Apr-2014All Recent SEC Filings




Unregistered Sale of Equity Securities, Change in Directors or

Item 3.02 Unregistered Sales of Equity Securities

Effective April 15, 2014, Lixte Biotechnology Holdings, Inc. (the "Company") received notices from certain of its warrant holders of the exercise of warrants (the "Warrants") to purchase an aggregate of 3,900,000 shares of the Company's common stock (the "Shares") at exercise prices of $0.25-$0.375. In connection with such exercises, the Company received or will receive an aggregate amount of $1,412,500. No commissions were paid to any party.

The Shares, when issued, will not be registered under the Securities Act of 1933, as amended (the "Act") in reliance upon the exemption from registration contained in Section 4(a)(2) of the Act and Regulation D promulgated thereunder. The Shares may not be reoffered or sold in the United States by the holders in the absence of an effective registration statement or exemption from the registration requirements of the Act.

The Company intends to use the proceeds from the exercise of the Warrants to pay for its ongoing clinical trial, maintenance of its patient portfolio and for general corporate purposes.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective April 16, 2014, Dr. Mel Sorenson resigned from the Company's Board of Directors.

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