Scorpius Holdings closes $6M offering of 60M units and pre-funded units with warrants

Scorpius Holdings, Inc.

Gross proceeds of ~$6M from offering of 60M units (common/pre-funded) at $0.10 per unit.
Each unit includes one common (or pre-funded warrant) + one common warrant exercisable at $0.12 for 5 years.
Net proceeds used for working capital and repayment of $750K promissory note.
Underwriters granted 45-day over-allotment option for up to 9M additional shares/warrants.
90-day insider lock-up; ThinkEquity gets 8-month right of first refusal on future offerings.

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

Scorpius Holdings, Inc. entered into Underwriting Agreement with ThinkEquity LLC valued at aggregate gross proceeds of approximately $6.0 million (effective 2024-05-14).

Action: entry
Agreement: underwriting
Counterparty: ThinkEquity LLC
Value: aggregate gross proceeds of approximately $6.0 million
Effective: 2024-05-14

Exact text from the filing

on May 14, 2024, the Company entered into an underwriting agreement (the "Underwriting Agreement") with ThinkEquity LLC (the "Representative"), as representative of the several underwriters named therein (the "Underwriters"), pursuant to which the Company agreed to issue and sell to the several Underwriters the Units and the Pre-Funded Units on a firm commitment basis

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Source: SEC EDGAR

accession 0001079973-24-000767

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