Heart Test Laboratories enters ATM equity distribution agreement for up to $3.25M

HeartSciences Inc.

Agreement with Maxim Group LLC to sell up to $3.25M of common stock in at-the-market offerings.
Commission of 3.0% of gross sales price plus up to $35,000 legal fee reimbursement.
Offering subject to SEC effectiveness of S-3 registration statement filed September 18, 2023.
No shares have been sold yet; sales will occur from time to time at prevailing market prices.

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

HeartSciences Inc. entered into Equity Distribution Agreement with Maxim Group LLC valued at up to $3,250,000 (effective 2023-09-18).

Action: entry
Agreement: atm program
Counterparty: Maxim Group LLC
Value: up to $3,250,000
Effective: 2023-09-18

Exact text from the filing

On September 18, 2023, Heart Test Laboratories, Inc. (the “Company”) entered into an Equity Distribution Agreement (the “EDA”) with Maxim Group LLC (“Maxim Group”) as sales agent, pursuant to which the Company may offer and sell, from time to time, an aggregate of up to $3,250,000 of its shares of common stock, $0.001 par value per share (the “Shares”), in an “at the market offering”

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HeartSciences Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-049433

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