---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-060689"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:21:32.557823+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# First Wave BioPharma raises ~$1.1M in registered direct offering priced at $2.95/share

## Summary
- Gross proceeds expected ~$1.1M; net proceeds ~$0.9M after agent fees.
- Offering includes 366,000 shares/pre-funded warrants at $2.95 and warrants for 732,000 shares at $2.70.
- Warrants are immediately exercisable, 6-year term, exercise price $2.70.
- Proceeds to be used for working capital and general corporate purposes.
- Closing expected on or about May 14, 2024, subject to customary conditions.

## SEC filing metadata
- accession: 0001104659-24-060689
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2024-05-13T23:59:59+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/1604191/000110465924060689/0001104659-24-060689-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465924060689/tm2414315d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-060689
- JSON: https://secwatch.observer/filing/0001104659-24-060689.json
- Plain text: https://secwatch.observer/filing/0001104659-24-060689.txt

## Key facts
- Material Agreements
  GridAI Technologies Corp. entered into Purchase Agreement with certain purchasers valued at approximately $0.9 million (effective 2024-05-10).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain purchasers
  - Value: approximately $0.9 million
  - Effective: 2024-05-10
  source text: On May 10, 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465924060689/0001104659-24-060689-index.htm
- Material Agreements
  GridAI Technologies Corp. entered into Placement Agency Agreement with Roth Capital Partners, LLC (effective 2024-05-10).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Roth Capital Partners, LLC
  - Effective: 2024-05-10
  source text: On May 10, 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”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465924060689/0001104659-24-060689-index.htm

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