IGC Pharma announces $3M private placement with Bradbury Asset Management at $0.34/share

IGC Pharma, Inc.

Issued 8,823,529 unregistered common shares at $0.34/share to Bradbury Asset Management on March 22, 2024.
Gross proceeds of $3 million to fund general corporate purposes and advance investigational drug IGC-AD1.
Closing subject to customary conditions including NYSE approval; shares not immediately tradable.
After issuance, IGC will have ~75,365,061 shares outstanding; piggyback registration rights granted.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IGC Pharma, Inc. entered into 2024 Share Purchase Agreement with Bradbury Asset Management (Hong Kong) Limited valued at $3,000,000 (effective 2024-03-22).

Action: entry
Agreement: equity purchase
Counterparty: Bradbury Asset Management (Hong Kong) Limited
Value: $3,000,000
Effective: 2024-03-22

Exact text from the filing

On March 22, 2024, IGC Pharma, Inc. (“IGC” or the “Company”) entered into the 2024 Share Purchase Agreement (the “2024 SPA”) with Bradbury Asset Management (Hong Kong) Limited (“Bradbury”) relating to the sale and issuance by our company to the investors of an aggregate of 8,823,529 shares of our common stock, for a total purchase price of $3,000,000

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324 material agreements filed in the last 30 days. Browse all material agreements →

IGC Pharma, Inc. filing history →

Source: SEC EDGAR

accession 0001185185-24-000324

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