Quoin Pharma enters $8M equity purchase agreement with Alumni Capital, with $4M minimum purchase commitment

Quoin Pharmaceuticals, Ltd.

Agreement allows Quoin to sell up to $8M of ADSs to Alumni Capital at discounts of 2% to 10% to market.
Minimum purchase of $4M required during the 90-day commitment period, extendable by 90 days.
Per-purchase limit typically $500k; floor price $1.00; commitment fee up to $240k in ADSs.
Shareholder approval must be obtained by April 30, 2024; else Quoin may terminate agreement.

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

Quoin Pharmaceuticals, Ltd. entered into Purchase Agreement with Alumni Capital LP valued at up to $8,000,000 (effective 2024-01-25).

Action: entry
Agreement: equity purchase
Counterparty: Alumni Capital LP
Value: up to $8,000,000
Effective: 2024-01-25

Exact text from the filing

On January 25, 2024, Quoin Pharmaceuticals Ltd. (the “Company” or “we”) entered into a Purchase Agreement (the “Purchase Agreement”) with Alumni Capital LP (“Alumni”).

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

Quoin Pharmaceuticals, Ltd. filing history →

Source: SEC EDGAR

accession 0001104659-24-008229

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