UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On August 24, 2022, ILiAD Biotechnologies LLC (“ILiAD”) completed a private financing of $42,836,000 of Class D units, of which a multi-national pharmaceutical company invested $30,000,000 (the “Financing”). As part of the Financing, Network-1 Technologies, Inc. (the “Company”) invested $1,000,000 and its convertible note in the principal amount of $1,000,000 plus accrued interest, in accordance with its terms, converted into units of ILiAD. Since December 2018, the Company has invested an aggregate of approximately $7,000,000 in ILiAD. ILiAD is a clinical stage biotechnology company dedicated to the prevention and treatment of human disease caused by Bordetella pertussis and is developing technologies that focus on validating its proprietary intranasal vaccine (BPZE1) for the prevention of pertussis (whooping cough).
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SIGNATURE
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.
| NETWORK-1 TECHNOLOGIES, INC. | ||
| Dated August 25, 2022 | By: | /s/ Corey M. Horowitz |
Name: Corey M. Horowitz Title: Chairman & Chief Executive Officer |
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