Entero Therapeutics raises $1.9M via warrant exercise inducement; issues new warrants for 3.5M shares

GridAI Technologies Corp.

Gross proceeds of ~$1.9M from cash exercise of 1,762,674 existing warrants at a reduced price of $1.09 per share.
In exchange, the company issued new inducement warrants to purchase up to 3,525,348 shares at $1.09, exercisable for 5 years from stockholder approval.
Roth Capital Partners acted as financial advisor, receiving ~$96,000 in fees plus expense reimbursement.
Company agreed to file a resale registration statement for the new warrant shares by July 25, 2024.
Transaction structured as an at-market warrant inducement under Nasdaq rules; no variable rate transactions until July 10, 2025.

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