---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-000688"
form_type: "8-K"
ticker: "IGC"
cik: "0001326205"
company_name: "IGC Pharma, Inc."
filed_at: "2023-07-07T23:59:59+00:00"
generated_at: "2026-06-13T10:55:54.974849+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# IGC Pharma raises $3M in private placement of 10M shares at $0.30/sh

## Summary
- Gross proceeds of $3M from Bradbury Asset Management (≈$2B AUM) and three other investors.
- 10 million unregistered common shares at $0.30 each; no warrants or derivatives included.
- Funds to advance Phase-2 clinical trial of IGC-AD1 for agitation in Alzheimer's dementia.
- Closing subject to NYSE approval; strengthens working capital for pipeline development.

## SEC filing metadata
- accession: 0001185185-23-000688
- form_type: 8-K
- ticker: IGC
- cik: 0001326205
- company_name: IGC Pharma, Inc.
- filed_at: 2023-07-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000688/0001185185-23-000688-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000688/igcpharma20230706_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-000688
- JSON: https://secwatch.observer/filing/0001185185-23-000688.json
- Plain text: https://secwatch.observer/filing/0001185185-23-000688.txt

## Key facts
- Material Agreements
  IGC Pharma, Inc. entered into 2023 Share Purchase Agreement with certain investors valued at $3,000,000 (effective 2023-06-30).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain investors
  - Value: $3,000,000
  - Effective: 2023-06-30
  source text: On June 30, 2023, IGC Pharma, Inc. (“IGC” or the “Company”) entered into the 2023 Share Purchase Agreement (the “2023 SPA”) with certain investors relating to the sale and issuance by our company to the investors of an aggregate of 10,000,000 shares of our common stock, for a total purchase price of $3,000,000 or $0.30 per share, subject to the terms and subject to the conditions set forth in the Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000688/0001185185-23-000688-index.htm

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