Tivic Health raises ~$2.1M in public offering of 51.25M shares at $0.04/share

Valion Bio, Inc.

Offering of 51,250,000 shares priced at $0.040 per share, gross proceeds ~$2.1M.
Net proceeds ~$1.9M after placement agent fees and expenses; intended for working capital.
Maxim Group acted as placement agent, receiving 8% cash fee ($164,000) and 2,050,000 warrants.
Placement agent warrants exercisable at $0.048/share for 5 years, 6-month lockout from closing.
Officers and directors entered 30-day lock-up on company securities following closing.

item 1.01 item 3.02 item 8.01 item 9.01

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 Placement Agency Agreement with Maxim Group LLC (effective 2023-07-14).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Effective: 2023-07-14

Exact text from the filing

Maxim Group LLC agreed to act as the placement agent (the “Placement Agent”), on a “reasonable best efforts” basis, in connection with the Offering.

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

Valion Bio, Inc. entered into Purchase Agreement with the investors named on the signature pages thereto (the “Purchasers”) valued at approximately $2.1 million (effective 2023-07-14).

Action: entry
Agreement: equity purchase
Counterparty: the investors named on the signature pages thereto (the “Purchasers”)
Value: approximately $2.1 million
Effective: 2023-07-14

Exact text from the filing

On July 14, 2023, Tivic Health Systems, Inc., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “Purchase Agreement”) with the investors named on the signature pages thereto (the “Purchasers”).

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Valion Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-033516

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