8-K
filed February 1, 2023, 6:59 PM ET
ticker ATXI
CIK 0001644963
other material
confidence high
sentiment neutral
materiality 0.75
Avenue Therapeutics closes $3.25M equity raise; existing warrants repriced to $1.55
AVENUE THERAPEUTICS, INC.
- Raised ~$3.25M gross via registered direct offering of 1,940,299 shares and pre-funded warrants, plus private placement of 1,940,299 warrants.
- Private placement warrants priced at $0.125 each, exercise price $1.55, 3-year term from initial exercise date; subject to registration.
- Existing warrants (exp. Oct 2027) exercise price reduced from $3.30 to $1.55 effective Jan 27, 2023.
- Executives, directors and 10%+ holders subject to 90-day lock-up from closing date (Jan 31, 2023).
- Net 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
AVENUE THERAPEUTICS, INC. entered into Registered Purchase Agreement with a single institutional accredited investor valued at approximately $3.0 million (effective 2023-01-27).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- a single institutional accredited investor
- Value
- approximately $3.0 million
- Effective
- 2023-01-27
Exact text from the filing
On January 27, 2023, Avenue Therapeutics, Inc. (the “ Company ”) entered into a Securities Purchase Agreement (the “ Registered Purchase Agreement ”) with a single institutional accredited investor
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVENUE THERAPEUTICS, INC. entered into Placement Agent Agreement with Aegis Capital Corp. (effective 2023-01-27).
- Action
- entry
- Agreement
- underwriting
- Counterparty
- Aegis Capital Corp.
- Effective
- 2023-01-27
Exact text from the filing
Aegis Capital Corp. (“ Aegis ”) acted as the exclusive placement agent in connection with the Registered Offering and the Private Placement under a Placement Agent Agreement, dated as of January 27, 2023, between the Company and Aegis (the “ Placement Agent Agreement ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVENUE THERAPEUTICS, INC. entered into Registration Rights Agreement with the investor (effective 2023-01-27).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- the investor
- Effective
- 2023-01-27
Exact text from the filing
In connection with the PIPE Purchase Agreement, the Company entered into a registration rights agreement (the “ Registration Rights Agreement ”) with the investor.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVENUE THERAPEUTICS, INC. entered into PIPE Purchase Agreement with the same institutional accredited investor valued at approximately $0.24 million (effective 2023-01-27).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- the same institutional accredited investor
- Value
- approximately $0.24 million
- Effective
- 2023-01-27
Exact text from the filing
On January 27, 2023, the Company also entered into a Securities Purchase Agreement (the “ PIPE Purchase Agreement ”) with the same institutional accredited investor
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVENUE THERAPEUTICS, INC. entered into Lock-Up Agreement with each of the Company’s executive officers, directors and the holders of 10% or more of the Company’s outstanding shares of Common Stock (effective 2023-01-27).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- each of the Company’s executive officers, directors and the holders of 10% or more of the Company’s outstanding shares of Common Stock
- Effective
- 2023-01-27
Exact text from the filing
Each of the Company’s executive officers, directors and the holders of 10% or more of the Company’s outstanding shares of Common Stock entered into a lock-up agreement (the “ Lock-Up Agreement ”) pursuant to which they agreed not to sell or transfer any securities of the Company held by them for a period commencing on January 27, 2023 and ending ninety (90) days after the Effective Date (as defined in PIPE Purchase Agreement), subject to limited exceptions.
View on SEC.gov
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