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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>WASHINGTON,
D. C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act Of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October 1, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>ACURA
PHARMACEUTICALS, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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    <TD STYLE="width: 34%; font-weight: bold; text-align: center">State of New York</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; font-weight: bold; text-align: center"><B>1-10113</B></TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font-weight: bold; text-align: center">11-0853640</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State of Other Jurisdiction</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">of Incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Identification Number)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>616 N. North Court, Suite 120</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Palatine, Illinois
60067</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(847) 705-7709</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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
(see General Instruction A.2. below):</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))&#9;<BR CLEAR="ALL" STYLE="mso-special-character:
line-break; page-break-before: always"></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><B>Item 1.01
Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 1, 2012, GCE Holdings LLC, the
beneficial owner of approximately 72.5% of our common stock distributed its holdings in our securities to its members (the &ldquo;Distribution&rdquo;)
including Care Capital Investments II, LP (&ldquo;Care Capital&rdquo;), Essex Woodlands Health Ventures V, L.P. (&ldquo;Essex&rdquo;)
and Galen Partners III, L.P. (&ldquo;Galen&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In accordance with the Amended and Restated
Voting Agreement dated February 6, 2004, as amended, among GCE, us and certain other shareholders (the &ldquo;Voting Agreement&rdquo;),
we have agreed that our Board of Directors shall be comprised of seven members, three of whom, subject to certain minimum share
holdings, are designees of GCE, one of whom is our Chief Executive Officer and three of whom are independence directors. The designees
of GCE were Richard Markham, Immanuel Thangaraj and David Azad. In anticipation of the Distribution, on October 1, 2012, GCE, Galen,
Care Capital, Essex and we amended the Voting Agreement to be effective on the date of Distribution (the &ldquo;Amendment&rdquo;).
Pursuant to the Amendment, GCE&rsquo;s Board designation rights will terminate and each of Care Capital, Essex and Galen has the
right to designate one director to our Board as long as it and its affiliates collectively hold at least 3,000,000 shares of our
common stock (or warrants exercisable for such shares) (the &ldquo;Minimum Threshold&rdquo;). Following the Distribution, each
of Galen, Care and Essex and its affiliates holds in excess of the Minimum Threshold. Pursuant to the Amendment, following the
Distribution, Messrs. Markham, Thangaraj and Azad will be the Board designees of Care Capital, Essex and Galen, respectively, under
the Voting Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the Amendment, each of Galen, Care
Capital and Essex also has the right to designate their directors to any committee established by the Board of Directors, so long
as they meet the relevant independence standards, in the case of our Audit Committee and Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The size of the Board of Directors will
remain at seven or increase to such larger number to ensure that the majority of the Board of Directors of the Company are independent
under NASDAQ Marketplace rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing is only a summary of certain
terms of the Amendment and is qualified in its entirety by the full text thereof, attached hereto as Exhibit 10.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a result of the Distribution we will
no longer be a &ldquo;Controlled Company&rdquo; under NASDAQ Marketplace rules. A &ldquo;controlled company&rdquo; is a company
of which more than 50% of the voting power is held by an individual, a group or another company. As a result we will now be required:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 75pt; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 75pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.79in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to maintain a Board consisting of a majority of independent directors;
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 75pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.79in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to determine compensation of our executive officers, or recommend
to the Board such compensation for determination, either by: (A) independent directors constituting a majority of the Board's independent
directors in a vote in which only independent directors participate; or (B) a compensation committee comprised solely of independent
directors; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 75pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.79in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to select director nominees or recommend their selection (subject
to the rights of Galen, Care and Essex to designate directors under the Voting Agreement as amended), either by (A) independent
directors constituting of a majority of the Board's independent directors in a vote in which only independent directors participate,
or (B) through a nominations committee comprised solely of independent directors.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Board has determined that following
the Distribution:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 75pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.79in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Messrs. Azad, Thangaraj and Markham will be independent directors
and our Board will consist of a majority of independent directors.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 75pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.79in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Compensation Committee, whose members are Messrs. Markham, Thangaraj
and Wesson, will consist entirely of independent directors. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 75pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.79in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Our directors will be nominated by our independent directors. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.01 Changes in Control of Registrant</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Item 1.01 is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; width: 25%">Exhibit Number</TD>
    <TD STYLE="width: 2%; font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; width: 73%">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Third Amendment to Amended and Restated Voting Agreement dated February 6, 2004</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>ACURA PHARMACEUTICALS, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;&nbsp;/s/ Peter A.&nbsp; Clemens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Peter A. Clemens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Senior Vice President &amp; Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date:&nbsp;&nbsp;&nbsp;&nbsp;October 3, 2012</TD>
    <TD></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: justify; text-indent: -2.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Exhibit Number</TD>
    <TD STYLE="width: 2%; font-weight: bold; text-align: justify; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 73%; padding-bottom: 1pt">
        <P STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify"><B>Description</B>&nbsp;</P></TD></TR>
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    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Third Amendment to Amended and Restated Voting Agreement dated February 6, 2004</TD></TR>
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{"company-data": {"conformed-name": "ACURA PHARMACEUTICALS, INC", "cik": "0000786947", "assigned-sic": "2834", "irs-number": "110853640", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10113", "film-number": "121127098"}, "business-address": {"street1": "616 N. NORTH COURT, SUITE 120", "city": "PALATINE", "state": "IL", "zip": "60067", "phone": "847-705-7709"}, "mail-address": {"street1": "616 N. NORTH COURT, SUITE 120", "street2": ".", "city": "PALATINE", "state": "IL", "zip": "60067"}, "former-company": {"former-conformed-name": "HALSEY DRUG CO INC/NEW", "date-changed": "19920703"}}
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
October 1, 2012
Date of Report (Date of earliest event reported)
ACURA
PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in
Charter)
State of New York
1-10113
11-0853640
(State of Other Jurisdiction
(Commission File Number)
(I.R.S. Employer
of Incorporation)
Identification Number)
616 N. North Court, Suite 120
Palatine, Illinois
60067
(Address of principal executive offices)
(Zip Code)
(847) 705-7709
(Registrant's telephone number, including
area code)
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
(see General Instruction A.2. below):
¨
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 (17CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On October 1, 2012, GCE Holdings LLC, the
beneficial owner of approximately 72.5% of our common stock distributed its holdings in our securities to its members (the "Distribution")
including Care Capital Investments II, LP ("Care Capital"), Essex Woodlands Health Ventures V, L.P. ("Essex")
and Galen Partners III, L.P. ("Galen").
In accordance with the Amended and Restated
Voting Agreement dated February 6, 2004, as amended, among GCE, us and certain other shareholders (the "Voting Agreement"),
we have agreed that our Board of Directors shall be comprised of seven members, three of whom, subject to certain minimum share
holdings, are designees of GCE, one of whom is our Chief Executive Officer and three of whom are independence directors. The designees
of GCE were Richard Markham, Immanuel Thangaraj and David Azad. In anticipation of the Distribution, on October 1, 2012, GCE, Galen,
Care Capital, Essex and we amended the Voting Agreement to be effective on the date of Distribution (the "Amendment").
Pursuant to the Amendment, GCE's Board designation rights will terminate and each of Care Capital, Essex and Galen has the
right to designate one director to our Board as long as it and its affiliates collectively hold at least 3,000,000 shares of our
common stock (or warrants exercisable for such shares) (the "Minimum Threshold"). Following the Distribution, each
of Galen, Care and Essex and its affiliates holds in excess of the Minimum Threshold. Pursuant to the Amendment, following the
Distribution, Messrs. Markham, Thangaraj and Azad will be the Board designees of Care Capital, Essex and Galen, respectively, under
the Voting Agreement.
Under the Amendment, each of Galen, Care
Capital and Essex also has the right to designate their directors to any committee established by the Board of Directors, so long
as they meet the relevant independence standards, in the case of our Audit Committee and Compensation Committee.
The size of the Board of Directors will
remain at seven or increase to such larger number to ensure that the majority of the Board of Directors of the Company are independent
under NASDAQ Marketplace rules.
The foregoing is only a summary of certain
terms of the Amendment and is qualified in its entirety by the full text thereof, attached hereto as Exhibit 10.1.
As a result of the Distribution we will
no longer be a "Controlled Company" under NASDAQ Marketplace rules. A "controlled company" is a company
of which more than 50% of the voting power is held by an individual, a group or another company. As a result we will now be required:
·
to maintain a Board consisting of a majority of independent directors;
·
to determine compensation of our executive officers, or recommend
to the Board such compensation for determination, either by: (A) independent directors constituting a majority of the Board's independent
directors in a vote in which only independent directors participate; or (B) a compensation committee comprised solely of independent
directors; and
·
to select director nominees or recommend their selection (subject
to the rights of Galen, Care and Essex to designate directors under the Voting Agreement as amended), either by (A) independent
directors constituting of a majority of the Board's independent directors in a vote in which only independent directors participate,
or (B) through a nominations committee comprised solely of independent directors.
Our Board has determined that following
the Distribution:
·
Messrs. Azad, Thangaraj and Markham will be independent directors
and our Board will consist of a majority of independent directors.
·
Our Compensation Committee, whose members are Messrs. Markham, Thangaraj
and Wesson, will consist entirely of independent directors.
·
Our directors will be nominated by our independent directors.
Item 5.01 Changes in Control of Registrant
Item 1.01 is incorporated herein by reference.
Item 9.01      Financial
Statements and Exhibits
Exhibit Number
Description
10.1
Third Amendment to Amended and Restated Voting Agreement dated February 6, 2004
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
thereunto duly authorized.
ACURA PHARMACEUTICALS, INC.
By:
/s/ Peter A.  Clemens
Peter A. Clemens
Senior Vice President & Chief Financial Officer
Date:    October 3, 2012
Exhibit Number
Description
10.1
Third Amendment to Amended and Restated Voting Agreement dated February 6, 2004