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[8-K] ESSA Pharma Inc. Reports Material Event

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8-K
Rhea-AI Filing Summary

ESSA Pharma corrected a prior press release about its US$80,000,000 capital distribution. The company had originally said its common shares would trade with due bills through August 25, 2025, implying recipients of an approximately US$1.6910318 per-share distribution would be identified on that date. The correction states the proper due bill period ended on August 22, 2025, and the Distribution was paid to shareholders on August 22, 2025. As a result, common shares did not trade with due bills on August 25, 2025 and instead traded ex-dividend beginning August 25, 2025. A copy of the correcting press release is attached as Exhibit 99.1.

ESSA Pharma ha corretto un comunicato stampa precedente relativo alla distribuzione di capitale di 80.000.000 USD. La società aveva inizialmente indicato che le azioni ordinarie avrebbero negoziato con due diligenti fino al 25 agosto 2025, lasciando intendere che i destinatari della distribuzione di circa 1,6910318 USD per azione sarebbero stati determinati in quella data. La correzione precisa che il periodo corretto dei due diligenti si è concluso il 22 agosto 2025 e che la distribuzione è stata pagata agli azionisti il 22 agosto 2025. Di conseguenza, le azioni ordinarie non hanno negoziato con due diligenti il 25 agosto 2025, ma hanno iniziato a negoziare ex-dividend a partire dal 25 agosto 2025. Una copia del comunicato correttivo è allegata come Exhibit 99.1.

ESSA Pharma corrigió un comunicado de prensa anterior sobre su distribución de capital de 80.000.000 USD. La compañía había indicado originalmente que las acciones ordinarias cotizarían con due bills hasta el 25 de agosto de 2025, lo que implicaba que los beneficiarios de una distribución de aproximadamente 1,6910318 USD por acción se identificarían en esa fecha. La corrección aclara que el periodo correcto de due bills finalizó el 22 de agosto de 2025 y que la distribución se pagó a los accionistas el 22 de agosto de 2025. Como resultado, las acciones ordinarias no cotizaron con due bills el 25 de agosto de 2025 y, en su lugar, cotizaron ex-dividend desde el 25 de agosto de 2025. Se adjunta una copia del comunicado correctivo como Exhibit 99.1.

ESSA Pharma� 8,000� 달러 자본 분배� 관� 이전 보도자료� 정정했습니다. 회사� 당초 보통주가 2025� 8� 25일까지 듀�(due bills) 상태� 거래� 것이라고 밝혀 � 주당 1.6910318달러� 분배 수령자가 해당 날짜� 확정되는 것으� 암시했습니다. 정정문은 올바� 듀� 기간� 2025� 8� 22일에 종료되었으며 분배금이 2025� 8� 22� 주주들에� 지급되었다� 명시합니�. � 결과 보통주는 2025� 8� 25일에 듀� 상태� 거래되지 않았�, 대� 2025� 8� 25일부� ex-dividend� 거래되었습니�. 정정 보도자료 사본은 Exhibit 99.1� 첨부되어 있습니다.

ESSA Pharma a corrigé un communiqué de presse antérieur concernant sa distribution de capital de 80 000 000 USD. La société avait initialement indiqué que ses actions ordinaires seraient négociées avec des due bills jusqu'au 25 août 2025, laissant entendre que les bénéficiaires d'une distribution d'environ 1,6910318 USD par action seraient déterminés à cette date. La correction précise que la période correcte des due bills s'est terminée le 22 août 2025 et que la distribution a été versée aux actionnaires le 22 août 2025. En conséquence, les actions ordinaires n'ont pas été négociées avec des due bills le 25 août 2025 et ont commencé à être négociées ex-dividend à partir du 25 août 2025. Une copie du communiqué correctif est jointe en tant qu'Exhibit 99.1.

ESSA Pharma hat eine frühere Pressemitteilung zu ihrer Kapitalausschüttung in Höhe von 80.000.000 USD korrigiert. Das Unternehmen hatte ursprünglich mitgeteilt, seine Stammaktien würden bis zum 25. August 2025 mit Due Bills gehandelt, was nahelegte, dass die Empfänger einer Ausschüttung von ungefähr 1,6910318 USD pro Aktie an diesem Datum ermittelt würden. Die Korrektur stellt fest, dass der korrekte Due-Bill-Zeitraum am 22. August 2025 endete und die Ausschüttung am 22. August 2025 an die Aktionäre ausgezahlt wurde. Folglich wurden die Stammaktien am 25. August 2025 nicht mit Due Bills gehandelt, sondern handelten ab dem 25. August 2025 ex-dividend. Eine Kopie der korrigierenden Pressemitteilung ist als Exhibit 99.1 beigefügt.

Positive
  • Correction issued promptly clarifying the due bill period and actual payment date
  • Distribution amount unchanged at approximately US$1.6910318 per common share and aggregate US$80,000,000
  • Distribution payment confirmed to shareholders on August 22, 2025
Negative
  • Initial press release misstated the due bill period, causing potential market/holder confusion
  • Share trading mechanics affected (shares traded ex-dividend on August 25, 2025 instead of with due bills as originally stated)

Insights

TL;DR: Correction clarifies timing of a capital distribution and trading basis; it's a procedural disclosure with limited financial impact.

The filing corrects an earlier communication about the due bill period for a US$80.0 million capital distribution and confirms payment occurred on August 22, 2025. This matters for shareholders and record-keeping because trading with due bills versus ex-dividend status affects which party receives the distribution after a trade. The correction resolves potential entitlement confusion and aligns public disclosure with the actual payment date. There is no new financial data or change to the distribution amount of approximately US$1.6910318 per share in the filing text provided.

TL;DR: A timely corrective disclosure that addresses a communications error; governance practice appears appropriate.

Issuing a correction and attaching the press release as an exhibit demonstrates adherence to disclosure protocols and transparency. The filing does not indicate any change to the distribution amount or payment mechanics beyond the corrected due bill period. While the initial error could cause short-term investor confusion, the prompt correction mitigates information risk. No regulatory approvals, litigation, or other governance actions are referenced in the provided content.

ESSA Pharma ha corretto un comunicato stampa precedente relativo alla distribuzione di capitale di 80.000.000 USD. La società aveva inizialmente indicato che le azioni ordinarie avrebbero negoziato con due diligenti fino al 25 agosto 2025, lasciando intendere che i destinatari della distribuzione di circa 1,6910318 USD per azione sarebbero stati determinati in quella data. La correzione precisa che il periodo corretto dei due diligenti si è concluso il 22 agosto 2025 e che la distribuzione è stata pagata agli azionisti il 22 agosto 2025. Di conseguenza, le azioni ordinarie non hanno negoziato con due diligenti il 25 agosto 2025, ma hanno iniziato a negoziare ex-dividend a partire dal 25 agosto 2025. Una copia del comunicato correttivo è allegata come Exhibit 99.1.

ESSA Pharma corrigió un comunicado de prensa anterior sobre su distribución de capital de 80.000.000 USD. La compañía había indicado originalmente que las acciones ordinarias cotizarían con due bills hasta el 25 de agosto de 2025, lo que implicaba que los beneficiarios de una distribución de aproximadamente 1,6910318 USD por acción se identificarían en esa fecha. La corrección aclara que el periodo correcto de due bills finalizó el 22 de agosto de 2025 y que la distribución se pagó a los accionistas el 22 de agosto de 2025. Como resultado, las acciones ordinarias no cotizaron con due bills el 25 de agosto de 2025 y, en su lugar, cotizaron ex-dividend desde el 25 de agosto de 2025. Se adjunta una copia del comunicado correctivo como Exhibit 99.1.

ESSA Pharma� 8,000� 달러 자본 분배� 관� 이전 보도자료� 정정했습니다. 회사� 당초 보통주가 2025� 8� 25일까지 듀�(due bills) 상태� 거래� 것이라고 밝혀 � 주당 1.6910318달러� 분배 수령자가 해당 날짜� 확정되는 것으� 암시했습니다. 정정문은 올바� 듀� 기간� 2025� 8� 22일에 종료되었으며 분배금이 2025� 8� 22� 주주들에� 지급되었다� 명시합니�. � 결과 보통주는 2025� 8� 25일에 듀� 상태� 거래되지 않았�, 대� 2025� 8� 25일부� ex-dividend� 거래되었습니�. 정정 보도자료 사본은 Exhibit 99.1� 첨부되어 있습니다.

ESSA Pharma a corrigé un communiqué de presse antérieur concernant sa distribution de capital de 80 000 000 USD. La société avait initialement indiqué que ses actions ordinaires seraient négociées avec des due bills jusqu'au 25 août 2025, laissant entendre que les bénéficiaires d'une distribution d'environ 1,6910318 USD par action seraient déterminés à cette date. La correction précise que la période correcte des due bills s'est terminée le 22 août 2025 et que la distribution a été versée aux actionnaires le 22 août 2025. En conséquence, les actions ordinaires n'ont pas été négociées avec des due bills le 25 août 2025 et ont commencé à être négociées ex-dividend à partir du 25 août 2025. Une copie du communiqué correctif est jointe en tant qu'Exhibit 99.1.

ESSA Pharma hat eine frühere Pressemitteilung zu ihrer Kapitalausschüttung in Höhe von 80.000.000 USD korrigiert. Das Unternehmen hatte ursprünglich mitgeteilt, seine Stammaktien würden bis zum 25. August 2025 mit Due Bills gehandelt, was nahelegte, dass die Empfänger einer Ausschüttung von ungefähr 1,6910318 USD pro Aktie an diesem Datum ermittelt würden. Die Korrektur stellt fest, dass der korrekte Due-Bill-Zeitraum am 22. August 2025 endete und die Ausschüttung am 22. August 2025 an die Aktionäre ausgezahlt wurde. Folglich wurden die Stammaktien am 25. August 2025 nicht mit Due Bills gehandelt, sondern handelten ab dem 25. August 2025 ex-dividend. Eine Kopie der korrigierenden Pressemitteilung ist als Exhibit 99.1 beigefügt.

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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): August 25, 2025

 

 

 

ESSA Pharma Inc.

(Exact name of registrant as specified in its charter)

 

 

 

British Columbia, Canada

(State or other jurisdiction of incorporation)

001-37410

(Commission File Number)

98-1250703

(IRS Employer Identification No.)

     

Suite 720, 999 West Broadway,

Vancouver, British Columbia, Canada

(Address of principal executive offices)

V5Z 1K5

(Zip Code)

 

Registrant’s telephone number, including area code: (778) 331-0962

 

 

 

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:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)     Name of each exchange on which registered  
Common Shares, no par value   EPIX   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 8.01 Other Events.

 

On August 25, 2025, ESSA Pharma Inc. (the “Company”) issued a press release announcing that the press release issued by the Company on August 14, 2025 inadvertently stated that the common shares of the Company (“Common Shares” and the holders of such Common Shares, the “Shareholders”) would trade with “due bills” representing an assignment of the right to receive approximately US$1.6910318 per Common Share in the previously announced capital distribution in the aggregate amount of US$80,000,000 (the “Distribution”) during the period from August 19, 2025 through and including August 25, 2025 (the “Due Bill Period”). The correct Due Bill Period was in fact August 19, 2025 through and including August 22, 2025. Shareholders should be advised that the Distribution was paid to Shareholders on August 22, 2025, and as a result Common Shares did not trade with due bills on August 25, 2025 and instead began trading on an “ex-dividend” basis as of such date. A copy of the press release is attached hereto as Exhibit 99.1.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No. Description
99.1 Press Release, dated August 25, 2025
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

Forward Looking Statements

 

This communication, and any related oral statements, contains certain information which, as presented, constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements include, but are not limited to, statements that relate to future events and often address expected future business and financial performance, containing words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions and include, but are not limited to, statements regarding the proposed timing and completion of the Transaction, the amounts payable under the Transaction; the timing and receipt of securityholder, regulatory and court approvals of the Transaction; the satisfaction of the conditions to the completion of the Transaction and other statements that are not statements of historical facts.

 

 

 

 

In this communication, these forward-looking statements are based on the Company’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by the Company, all of which are subject to change. Forward-looking statements are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, and which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, including the consummation of the Transaction and the anticipated benefits thereof. Such statements reflect the Company’s current views with respect to future events, are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, regulatory, political and social uncertainties and contingencies. In making forward-looking statements, the Company may make various material assumptions, including but not limited to (i) the completion of the Transaction on anticipated terms and timing, including obtaining required securityholder, regulatory and court approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the potential for the date of the Special Meeting to change; (iii) potential litigation relating to the Transaction that could be instituted by or against the Company, Xeno, XOMA Royalty Corporation or their respective directors or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm the Company’s business, including current plans and operations; (v) the ability of the Company to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting the Company’s business; (ix) the accuracy of the Company’s financial projections; (x) general business, market and economic conditions; (xi) certain restrictions during the pendency of the Transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as the Company’s response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) competitive responses to the Transaction; (xvi) the risks and uncertainties pertaining to the Company’s business, including those set forth in the Company’s Annual Report on Form 10-K dated December 17, 2024, under the heading “Risk Factors”, a copy of which is available on the Company’s profile on EDGAR at www.sec.gov and on SEDAR+ at www.sedarplus.ca, and as otherwise disclosed from time to time on the Company’s EDGAR and SEDAR+ profiles; and (xvii) the risks and uncertainties that are described in the definitive proxy statement and management information circular for the Company’s securityholders filed with the U.S. Securities and Exchange Commission on August 11, 2025 (the “SEC,” and such statement, the “Proxy Statement”) available from the sources indicated above.

 

These risks, as well as other risks associated with the Transaction, are more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors presented in the Proxy Statement are, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on the Company’s financial condition, results of operations, credit rating or liquidity. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as may be required by applicable United States and Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.

 

Important Additional Information and Where to Find It

 

In connection with the proposed Transaction between the Company, Xeno and XOMA Royalty Corporation, the Company has filed with the SEC the definitive Proxy Statement on August 11, 2025 and the Proxy Statement was first sent or provided to the Company securityholders on August 11, 2025. The Company may also file other documents with the SEC regarding the proposed Transaction. This document is not a substitute for the Proxy Statement or any other document which the Company may file with the SEC or send or provide to the Company securityholders in connection with the Transaction. INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and securityholders may obtain free copies of the Proxy Statement and other documents that are filed or will be filed with the SEC by the Company (when they become available) through the website maintained by the SEC at www.sec.gov, on SEDAR+ at www.sedarplus.ca, or at the Company’s website at www.essapharma.com.

 

 

 

 

Participants in the Solicitation

 

The Company and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s shareholders in connection with the proposed Transaction. Additional information regarding such participants, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions “THE ARRANGEMENT – Interests of the Company’s Directors and Executive Officers in the Arrangement”, “IMPORTANT INFORMATION ABOUT THE COMPANY – Security Ownership” and “INTERESTS OF THE COMPANY’S DIRECTORS AND EXECUTIVE OFFICERS IN THE ARRANGEMENT” contained in the Proxy Statement. Information relating to the foregoing can also be found in the Company’s proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on January 22, 2025. To the extent holdings of securities by potential participants changed since the applicable “as of” date disclosed in the Proxy Statement, such information has been or will be reflected on the Company’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above.

 

 

 

 

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 hereunto duly authorized.

 

 ESSA PHARMA INC.
 (Registrant)
    
Date: August 25, 2025   
 By: /s/ David Wood
   Name: David Wood
   Title: Chief Financial Officer

 

 

FAQ

What did ESSA Pharma (EPIX) correct in its 8-K?

The company corrected the stated due bill period for its US$80,000,000 capital distribution, clarifying the correct period was through August 22, 2025, not August 25, 2025.

When was the Distribution paid to ESSA Pharma shareholders?

The Distribution was paid to shareholders on August 22, 2025.

How much was the per-share distribution announced by ESSA Pharma?

The filing states an approximate per-share distribution of US$1.6910318 per Common Share.

Did the correction change the amount of the Distribution?

No. The filing confirms the Distribution amount remains approximately US$1.6910318 per share and total aggregate US$80,000,000.

How did the error affect share trading on August 25, 2025?

Because the Distribution was paid on August 22, 2025, common shares did not trade with due bills on August 25, 2025 and instead traded ex-dividend on that date.
Essa Pharma

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