IGC Pharma enters ATM sales agreement for up to $60M in common stock

IGC Pharma, Inc.

Agreement with A.G.P./Alliance Global Partners allows at-the-market sales of up to $60 million in common stock.
Board initially reserved 171,428,571 shares based on $0.35 reference price; commission set at 3.0% of gross proceeds.
Sales may occur from time to time via NYSE American; agent not obligated to purchase shares on principal basis.
Annual maintenance fee of $10,000 payable to sales agent; agreement terminates after three years or earlier by notice.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

IGC Pharma, Inc. entered into Sales Agreement with A.G.P./Alliance Global Partners valued at aggregate offering price subject to certain limitations on the amount of Common Stock that may be of (effective 2024-03-19).

Action: entry
Agreement: atm program
Counterparty: A.G.P./Alliance Global Partners
Value: aggregate offering price subject to certain limitations on the amount of Common Stock that may be of
Effective: 2024-03-19

Exact text from the filing

On March 19, 2024, IGC Pharma, Inc. (the “Company”) entered into a new 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 0001185185-24-000301

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