---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-032650"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2023-03-15T23:59:59+00:00"
generated_at: "2026-06-18T02:02:36.829385+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First Wave BioPharma raises $4.0M in private placement of common stock and warrants

## Summary
- Gross proceeds ~$4.0M; issue of 1,023,018 shares/pre-funded warrants and 2,046,036 common warrants.
- Price $3.91 per share/pre-funded warrant; common warrants exercise price $3.66, 5-year term.
- Pre-funded warrants exercisable at $0.0001; closing expected March 15, 2023.
- Roth Capital Partners acts as exclusive placement agent; proceeds for working capital.
- Company to file resale registration statement with SEC within 30 days or 5 days after annual report.

## SEC filing metadata
- accession: 0001104659-23-032650
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2023-03-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604191/000110465923032650/0001104659-23-032650-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465923032650/tm239569d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-032650
- JSON: https://secwatch.observer/filing/0001104659-23-032650.json
- Plain text: https://secwatch.observer/filing/0001104659-23-032650.txt

## Key facts
- Material Agreements
  GridAI Technologies Corp. entered into Securities Purchase Agreement with a single institutional investor valued at approximately $4.0 million (effective 2023-03-12).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: a single institutional investor
  - Value: approximately $4.0 million
  - Effective: 2023-03-12
  source text: On March 12, 2023, First Wave BioPharma, Inc., a Delaware corporation (the "Company"), entered into a Securities Purchase Agreement (the "Purchase Agreement") with a single institutional investor (the "Purchaser"), pursuant to which the Company agreed to issue, in a private placement (the "Offering"), an aggregate of (i) 128,000 shares (the "Shares") of the Company's common stock, par value $0.0001 per share (the "Common Stock"), (ii) pre-funded warrants (the "Pre-Funded Warrants") to purchase up to an aggregate of 895,018 shares (the "Pre-Funded Warrant Shares") and (iii) common warrants (the "Common Warrants" and collectively with the Pre-Funded Warrants, the "Warrants"), to purchase up to an aggregate of 2,046,036 shares of Common Stock (the "Common Warrant Shares" and collectively with the Pre-Funded Warrant Shares, the "Warrant Shares") at a purchase price of $3.91 per Share (or Pre-Funded Warrant in lieu thereof) and accompanying Common Warrant.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923032650/0001104659-23-032650-index.htm
- Material Agreements
  GridAI Technologies Corp. entered into Registration Rights Agreement with the Purchaser (effective 2023-03-12).
  - Action: entry
  - Counterparty: the Purchaser
  - Effective: 2023-03-12
  source text: In connection with the Offering, on March 12, 2023, the Company and the Purchaser entered into a Registration Rights Agreement (the "Registration Rights Agreement") pursuant to which the Company is required to file a registration statement with the Securities and Exchange Commission (the "SEC") to register for resale the Shares and the Warrant Shares.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923032650/0001104659-23-032650-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.