Annovis Bio enters equity line with Keystone Capital for up to 2.05M shares

Annovis Bio, Inc.

Company may sell up to 2,051,428 shares at market price, subject to 19.99% cap unless at-market.
Initial commitment shares: 10,181 delivered at signing; additional shares on days 90 and 180.
Proceeds will be used for working capital and general corporate purposes.
Investor Keystone Capital cannot engage in short sales or hedging during agreement term.
Fixed purchase limit: lower of 25,000 shares or $250,000; VWAP aggregate cap $10M.

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

Annovis Bio, Inc. entered into Common Stock Purchase Agreement with the Equity Line investor (the "ELOC Purchaser") valued at up to 2,051,428 shares (effective 2024-04-25).

Action: entry
Agreement: equity purchase
Counterparty: the Equity Line investor (the "ELOC Purchaser")
Value: up to 2,051,428 shares
Effective: 2024-04-25

Exact text from the filing

On April 25, 2024, Annovis Bio, Inc., a Delaware corporation (the “Company”), entered into a Common Stock Purchase Agreement (the “Purchase Agreement”) with the Equity Line investor (the “ELOC Purchaser”), whereby the Company may offer and sell, from time to time at its sole discretion, and whereby the ELOC Purchaser has committed to purchase, up to 2,051,428 shares of shares of the Company’s common stock, $0.0001 par value per share (the “Common Stock”) (but subject to the limitations described below).

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Annovis Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-052471

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