T Stamp raises ~$2.4M via warrant exercise with institutional investor; issues 3.6M new warrants at $1.34

T Stamp Inc

Gross proceeds ~$2.4M from cash exercise of 1.8M warrants; net proceeds for growth, working capital.
Exercise price on all existing warrants reduced to $1.34 per share (last closing price).
New unregistered warrants to purchase 3.6M shares at $1.34, exercisable only after stockholder approval (by March 20, 2024).
Company banned from Variable Rate Transactions for 100 days; Maxim Group receives 7% cash fee of gross proceeds.
Existing warrants registered; new warrants issued in private placement to accredited investor.

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

T Stamp Inc entered into Warrant Exercise Agreement with a certain existing institutional investor valued at approximately $2.4 million (effective 2023-12-20).

Action: entry
Agreement: equity purchase
Counterparty: a certain existing institutional investor
Value: approximately $2.4 million
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, T Stamp Inc., a Delaware corporation (the “ Company ”), entered into a warrant exercise agreement (the “ WEA ”) with a certain existing institutional investor

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38 material agreements filed in the last 30 days. Browse all material agreements →

T Stamp Inc filing history →

Source: SEC EDGAR

accession 0001104659-23-128174

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