Hepion Pharmaceuticals Raises $20M via Private Placement of Convertible Preferred Stock

Hepion Pharmaceuticals, Inc.

Offering includes 1,900,000 Series F and 100,000 Series G shares at $9.50 each.
Each preferred share convertible into common at $1.00 per share (5% original issue discount).
Investors agreed to vote Series F in favor of reverse stock split; Series G votes mirror proportions.
Company filed certificates of designation and entered registration rights agreement for resale.
A.G.P./Alliance Global Partners acted as placement agent with $1M cash fee plus expenses.

item 1.01 item 3.02 item 3.03 item 5.03 item 8.01 item 9.01

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

Hepion Pharmaceuticals, Inc. entered into Securities Purchase Agreement with certain institutional investors valued at gross proceeds of $20 million (effective 2022-11-04).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: gross proceeds of $20 million
Effective: 2022-11-04

Exact text from the filing

On November 4, 2022, Hepion Pharmaceuticals, Inc., a Delaware corporation (the “ Company ”), entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with certain institutional investors (the “ Investors ”), pursuant to which the Company agreed to issue and sell, in a private placement (the “ Offering ”), 1,900,000 shares of the Company’s Series F Convertible Redeemable Preferred Stock, par value $0.0001 per share (the “ Series F Preferred Stock ”), and 100,000 shares of the Company’s Series G Convertible Redeemable Preferred Stock, par value $0.0001 per share (the “ Series G Preferred Stock ,” and together with the Series F Preferred Stock, the “ Preferred Stock ”), at an offering price of $9.50 per share, representing a 5% original issue discount (“ OID ”) to the stated value of $10.00 per share, for gross proceeds of $20 million in the aggregate for the Offering, before the deduction of discounts, fees and offering expenses.

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Hepion Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-116082

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