Aptevo enters warrant inducement to raise up to $3.4M, issues new warrants at $0.233

Aptevo Therapeutics Inc.

Existing warrant holders agree to exercise up to 16,013,034 shares at $0.233 per share for up to ~$3.4M gross proceeds.
New Series A and B warrants issued for 200% of exercised shares, with exercise price $0.233; 50% immediately exercisable.
Proceeds to fund clinical development and working capital; A.G.P./Alliance Global Partners serves as financial advisor (7% fee).
New warrants subject to beneficial ownership limitations (4.99% or 9.99%); registration statement for resale to be filed by Nov 27, 2023.

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

Aptevo Therapeutics Inc. entered into Inducement Agreement with certain holders of existing Series A Common Stock Purchase Warrants and Series B Common Stock Purchase Warrants valued at up to approximately $3.4 million (effective 2023-11-09).

Action: entry
Agreement: equity purchase
Counterparty: certain holders of existing Series A Common Stock Purchase Warrants and Series B Common Stock Purchase Warrants
Value: up to approximately $3.4 million
Effective: 2023-11-09

Exact text from the filing

On November 9, 2023, Aptevo Therapeutics Inc. (the “Company”) entered into a warrant inducement agreement (the “Inducement Agreement”) with certain holders (the “Holders”) of the Company’s existing Series A Common Stock Purchase Warrants (“Existing Series A Warrants”) and Series B Common Stock Purchase Warrants (“Existing Series B Warrants” and together, the “Existing Warrants”) to purchase shares of common stock, par value $0.001 per share (the “Common Stock”), of the Company.

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Aptevo Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-062234

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