other material
confidence high
sentiment neutral
materiality 0.65
Humacyte enters $50M equity purchase agreement with Lincoln Park Capital
Humacyte, Inc.
- Company can sell up to $50M of common stock to Lincoln Park over 24 months at its discretion.
- Purchase price is 97% of the lower of the daily low or average of three lowest closing prices over prior 10 days.
- Shares not sold below $1.00 floor price; maximum regular purchase of 100,000 shares or $1.5M per day.
- Commitment fee of 115,705 shares issued to Lincoln Park; net proceeds for R&D, commercial launch, and working capital.
- Lincoln Park agrees not to engage in short-selling or hedging during the term.