AXIM Biotechnologies enters $20M equity purchase agreement with Cross & Company

AXIM BIOTECHNOLOGIES, INC.

Equity Purchase Agreement for up to $20M of common stock with an institutional investor (Cross & Company).
Company may require investor to buy shares in puts of $10k-$250k, subject to volume limits.
Purchase price set at 87.5% of lowest traded price during a 10-day valuation period after clearing.
Agreement term up to 3 years; registration statement on Form S-1 required for resale of put shares.
Issuance capped at 4.99% beneficial ownership; dilution potential from discounted share sales.

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

AXIM BIOTECHNOLOGIES, INC. entered into Equity Purchase Agreement with an institutional accredited investor (the "Investor") valued at up to $20,000,000 (effective 2023-06-01).

Action: entry
Agreement: equity purchase
Counterparty: an institutional accredited investor (the "Investor")
Value: up to $20,000,000
Effective: 2023-06-01

Exact text from the filing

On June 1, 2023, AXIM Biotechnologies, Inc., a Nevada corporation (the “Company”), entered into an Equity Purchase Agreement (the “Purchase Agreement”) with an institutional accredited investor (the “Investor”), pursuant to which the Investor committed to purchase up to $20,000,000 of the Company’s common stock (the “Financing”).

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AXIM BIOTECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001096906-23-001228

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