IGC Pharma enters $60M ATM equity offering with A.G.P./Alliance Global Partners

IGC Pharma, Inc.

On Oct 27, 2023, IGC Pharma entered an ATM sales agreement with A.G.P./Alliance Global Partners to sell up to $60M of common stock.
A.G.P. will receive a 3% commission on gross proceeds; the company reimburses up to $40K legal fees and $10K annual maintenance.
The prior ATM agreement with The Benchmark Company (Jan 2021) was terminated.
Board initially reserved shares based on Oct 25 closing price of $0.29 per share.
Agreement terminates upon sale of all shares, or by either party with 5 days' notice, or registration statement expiry.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

IGC Pharma, Inc. entered into Sales Agreement with A.G.P./Alliance Global Partners valued at up to $60 million.

Action: entry
Agreement: atm program
Counterparty: A.G.P./Alliance Global Partners
Value: up to $60 million

Exact text from the filing

IGC Pharma, Inc. (the “Company”) entered into a Sales Agreement (the “Agreement”) with A.G.P./Alliance Global Partners (the “Agent”)

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IGC Pharma, Inc. filing history →

Source: SEC EDGAR

accession 0001185185-23-001111

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