HX Entertainment Ltd. Acquires 10.9% Stake in Processa Pharmaceuticals, Inc.

HX Entertainment Ltd., a Malta-based investment and entertainment services company controlled by Alexandre Dreyfus, has acquired a 10.9% stake in Processa Pharmaceuticals, Inc. The acquisition involves 5,467,181 shares of Common Stock, purchased at approximately $0.2275 per share, totaling around $1,243,784. The funds were sourced from HX Entertainment's working capital and investment funds. The investment aligns with HX Entertainment's interest in innovative financial strategies, particularly in the biotech-fintech convergence sector. HX Entertainment intends to hold the shares for investment purposes but may engage in discussions with Processa's management, propose strategic alternatives, or seek board representation. The acquisition was disclosed in a Schedule 13D filing with the SEC.