Nocopi Technologies raises $5M in private placement; Frost Gamma Investments acquires 1.25M shares at $4.00 each

NOCOPI TECHNOLOGIES INC/MD/

Gross proceeds $5 million from private placement of 1.25M shares at $4.00 per share to Frost Gamma Investments Trust.
No placement fees, commissions, or warrants issued in the transaction.
Frost Gamma to receive 65,790 advisory shares ratably over three-year term for services from Phillip Frost.
Proceeds to be used for working capital and general corporate purposes.

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

NOCOPI TECHNOLOGIES INC/MD/ entered into Stock Purchase Agreement with Frost Gamma Investments Trust valued at $5 million (effective 2023-09-11).

Action: entry
Agreement: equity purchase
Counterparty: Frost Gamma Investments Trust
Value: $5 million
Effective: 2023-09-11

Exact text from the filing

On September 11, 2023, Nocopi Technologies, Inc., a Maryland corporation (the “ Company ”) entered into a Stock Purchase Agreement (the “ Purchase Agreement ”), by and between the Company and Frost Gamma Investments Trust (the “ Purchaser ”).

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NOCOPI TECHNOLOGIES INC/MD/ filing history →

Source: SEC EDGAR

accession 0001079973-23-001254

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