Lifecore Biomedical raises $5.0M via private placement of 627,746 shares at $7.97 each

LIFECORE BIOMEDICAL, INC. DE

Sold 627,746 shares of common stock at $7.97 each to entities affiliated with Wynnefield Capital, Inc.
Gross proceeds of approximately $5.0 million; transaction closed November 25, 2022.
Purchasers granted piggyback registration rights; offering exempt under Section 4(a)(2) of Securities Act.
Shares issued as unregistered; no specific use of proceeds disclosed in the filing.
Dilution represents about 2.1% of outstanding common stock (29.67M shares pre-offering).

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

LIFECORE BIOMEDICAL, INC. DE entered into Securities Purchase Agreement with entities affiliated with Wynnefield Capital, Inc. valued at approximately $5.0 million (effective 2022-11-25).

Action: entry
Agreement: equity purchase
Counterparty: entities affiliated with Wynnefield Capital, Inc.
Value: approximately $5.0 million
Effective: 2022-11-25

Exact text from the filing

On November 25, 2022, Lifecore Biomedical, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with entities affiliated with Wynnefield Capital, Inc. (the “Purchasers”).

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LIFECORE BIOMEDICAL, INC. DE filing history →

Source: SEC EDGAR

accession 0001005286-22-000083

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