other material
confidence high
sentiment neutral
materiality 0.65
Sky Quarry enters $8.125M equity line with Varie at 97% of market price, floor $0.62
Sky Quarry Inc.
- Varie commits to purchase up to $8.125M of common stock over 24 months at Company's discretion.
- Purchase price is 97% of lower of lowest sale price on purchase date or avg of 3 lowest closing prices in prior 10 days, not below $0.62 per share.
- Company issued 366,260 commitment shares; may issue up to 183,131 additional commitment shares tied to further purchases.
- Monthly fee of $12,000 payable to Varie after effectiveness of registration statement.
- Regular purchase limits: 40,000 shares per day, rising to 100,000 if stock price above $2.00, max $300,000 per purchase.