secwatch.observer — SEC 8-K summary
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Issuer:     IGC Pharma, Inc. (IGC)
CIK:        0001326205
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001185185-23-001111
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326205/000118518523001111/0001185185-23-001111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326205/000118518523001111/igcpharma20231027_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-001111

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