Tivic Health closes $5M public offering of 20M shares at $0.25 each

Valion Bio, Inc.

Priced offering of 20M shares at $0.25 each for $5M gross; net proceeds ~$4.1M after underwriting discounts and expenses.
Underwriters have 45-day over-allotment option to buy up to 3M additional shares at $0.25 less discount.
Issued 1M share Representative's Warrants at $0.3125 per share, exercisable 180 days after offering for 4 years.
Proceeds to be used for ClearUp sales expansion, healthcare professional network penetration, and clinical/regulatory costs for new product candidates.
Lock-up agreements for 3 months on executive officers, directors, and certain shareholders.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Valion Bio, Inc. entered into Underwriting Agreement with ThinkEquity LLC valued at $5.0 million (effective 2023-02-08).

Action: entry
Agreement: underwriting
Counterparty: ThinkEquity LLC
Value: $5.0 million
Effective: 2023-02-08

Exact text from the filing

On February 8, 2023, Tivic Health Systems, Inc., a Delaware corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC, as representative of the underwriters (the “Underwriter”), pursuant to which the Company agreed to issue and sell to the Underwriter in a firm commitment underwritten public offering (the “Offering”), 20,000,000 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (“Common Stock”), at a public offering price of $0.25 per share, less underwriting discounts and commissions, resulting in gross proceeds to the Company of $5.0 million.

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38 material agreements filed in the last 30 days. Browse all material agreements →

Valion Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-002621

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