Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
From December 13, 2023 to December 14, 2023, two purchaser parties (the "Advancing Purchasers") to the previously disclosed Securities Purchase Agreement (the "SPA") dated November 8, 2023, among Arch Therapeutics, Inc. (the "Company") and the purchasers party thereto (including the Advancing Purchasers), advanced the Company an aggregate of $500,000 (the "Advances"), which Advances are being treated as partial prepayment of the purchase price for the Advancing Purchasers under the SPA. If the transactions contemplated by the SPA are not consummated by February 29, 2023, the Company will be obligated to repay the Advances to the Advancing Purchasers within three business days thereafter.

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Arch Therapeutics Inc. published this content on 15 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2023 21:35:19 UTC.