eFFECTOR Therapeutics enters $50M ATM equity facility with H.C. Wainwright; terminates prior Cantor agreement

eFFECTOR Therapeutics, Inc.

New ATM offering agreement allows sale of up to $50M in common stock via H.C. Wainwright; agent commission 3.0%.
Prior ATM agreement with Cantor Fitzgerald terminated; company had sold 1.075M shares for $9.8M under that program.
Sales under new agreement are at-the-market on Nasdaq; no obligation to sell any shares.

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

eFFECTOR Therapeutics, Inc. terminated Controlled Equity Offering SM Sales Agreement with Cantor Fitzgerald & Co. (effective 2024-05-09).

Action: termination
Agreement: atm program
Counterparty: Cantor Fitzgerald & Co.
Effective: 2024-05-09

Exact text from the filing

On May 9, 2024, the Company terminated its Controlled Equity Offering SM Sales Agreement, dated September 1, 2022, with Cantor Fitzgerald & Co. (the “Prior Sales Agreement”), pursuant to which the Company was able sell shares of common stock in “at the market offerings” as defined by Rule 415 of the Securities Act.

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

eFFECTOR Therapeutics, Inc. entered into Sales Agreement with H.C. Wainwright & Co., LLC valued at up to $50.0 million (effective 2024-05-09).

Action: entry
Agreement: atm program
Counterparty: H.C. Wainwright & Co., LLC
Value: up to $50.0 million
Effective: 2024-05-09

Exact text from the filing

On May 9, 2024, eFFECTOR Therapeutics, Inc. (the “Company”) entered into an At the Market Offering Agreement (the “Sales Agreement”) with H.C. Wainwright & Co., LLC (the “Agent”), under which the Company may, from time to time, sell shares of the Company’s common stock having an aggregate offering price of up to $50.0 million through the Agent.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950170-24-056912

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