Auctus Fund

Mar 17, 2022

08:31a 03/17/2022 | 04:28pm EDT Message : Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 15, 2022 NEXGEL, INC. Delaware Langhorne, Pennsylvania (Zip Code) (Former name or former address, if changed since last report) Not Applicable 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: ¨ ¨ ¨ ¨ Securities registered pursuant to Section 12(b) of the Act: Title of each class registered NXGL NXGLW TheNasdaqCapital Market LLC 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 x 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 1.02. On March 15, 2022, NexGel, Inc. (the "Company") repaid in full with a one-time cash payment of $1,680,000 all outstanding principal and accrued but unpaid interest under that certain 12% senior secured convertible promissory note issued to Auctus Fund, LLC ("Auctus") on March 11, 2021 (the "Auctus Note"). The Company did not incur any penalty with respect to the repayment of the Auctus Note and the repayment extinguished the Auctus Note in its entirety. A description of the material terms of the Auctus Note was contained in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on March 17, 2021 (the "Auctus Form 8-K"). The foregoing summary of the Auctus Note does not purport to be complete and is subject to, and qualified in its entirety by reference to the Auctus Note, which was filed as Exhibit 4.1 to the Auctus Form 8-K and is incorporated herein by reference. 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. Date: March 17, 2022