---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-031098"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2024-03-05T23:59:59+00:00"
generated_at: "2026-06-05T03:49:33.656669+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-031098
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2024-03-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604191/000110465924031098/0001104659-24-031098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465924031098/tm248020d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-031098
- JSON: https://secwatch.observer/filing/0001104659-24-031098.json
- Plain text: https://secwatch.observer/filing/0001104659-24-031098.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465924031098/0001104659-24-031098-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465924031098/0001104659-24-031098-index.htm

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