Tivic Health prices $1.4M public offering of 33.2M shares at $0.041/share

Valion Bio, Inc.

Priced public offering of 33,173,000 shares at $0.041/share; expected gross proceeds ~$1.4M.
Net proceeds ~$1.2M after placement agent fees and expenses; use for working capital and general corporate purposes.
Maxim Group LLC acted as sole placement agent; received 8% cash fee ($108,807) and warrants for 1,326,920 shares at $0.0492.
Offering closed on August 9, 2023; officers and directors entered 30-day lock-up agreements.

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 Purchase Agreement with the investors named on the signature pages thereto valued at approximately $1.4 million (effective 2023-08-06).

Action: entry
Agreement: equity purchase
Counterparty: the investors named on the signature pages thereto
Value: approximately $1.4 million
Effective: 2023-08-06

Exact text from the filing

On August 6, 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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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 valued at an aggregate cash fee of 8.0% of the aggregate gross proceeds of the Offering (amounting to $108,807 (effective 2023-08-06).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Value: an aggregate cash fee of 8.0% of the aggregate gross proceeds of the Offering (amounting to $108,807
Effective: 2023-08-06

Exact text from the filing

On August 6, 2023, the Company and Maxim entered into a Placement Agency Agreement (the “Placement Agency Agreement”), pursuant to which, as compensation for services rendered by the Placement Agent in connection with the Offering, the Company paid the Placement Agent an aggregate cash fee of 8.0% of the aggregate gross proceeds of the Offering (amounting to $108,807) at closing, as well as up to $90,000 for the reimbursement of certain of the Placement Agent’s expenses.

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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 0000950170-23-040603

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