FWBI raises ~$4.0M gross in registered direct offering; issues warrants

GridAI Technologies Corp.

Gross proceeds ~$4.0M from sale of 525,625 shares (or equivalents) at $7.61/share; net ~$3.6M.
Concurrent private placement: warrants to purchase up to 525,625 shares at $7.48, 5-year term.
Roth Capital Partners acting as exclusive placement agent; closing expected March 6, 2024.
Net proceeds intended 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 0.95

GridAI Technologies Corp. entered into Placement Agency Agreement with Roth Capital Partners, LLC (effective 2024-03-03).

Action: entry
Agreement: underwriting
Counterparty: Roth Capital Partners, LLC
Effective: 2024-03-03

Exact text from the filing

On March 3, 2024, First Wave BioPharma, Inc. (the “Company”) entered into a placement agency agreement (the “Placement Agency Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”) and a securities purchase agreement (the “Purchase Agreement”) with certain purchasers pursuant to which the Company agreed to sell, in a registered direct offering (the “Offering”), an aggregate of (i) 173,100 shares (the “Shares”) of common stock, par value $0.0001 per share (the “Common Stock”), of the Company, and (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to an aggregate of 352,525 shares of Common Stock (the “Pre-Funded Warrant Shares”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

GridAI Technologies Corp. entered into Purchase Agreement with certain purchasers (effective 2024-03-03).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers
Effective: 2024-03-03

Exact text from the filing

On March 3, 2024, First Wave BioPharma, Inc. (the “Company”) entered into a placement agency agreement (the “Placement Agency Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”) and a securities purchase agreement (the “Purchase Agreement”) with certain purchasers pursuant to which the Company agreed to sell, in a registered direct offering (the “Offering”), an aggregate of (i) 173,100 shares (the “Shares”) of common stock, par value $0.0001 per share (the “Common Stock”), of the Company, and (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to an aggregate of 352,525 shares of Common Stock (the “Pre-Funded Warrant Shares”).

View on SEC.gov

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

GridAI Technologies Corp. filing history →

Source: SEC EDGAR

accession 0001104659-24-031098

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