Veru Inc. raises $5M via private placement of 5M shares at $1.00 to Frost Gamma Investments Trust

VERU INC.

Issued 5,000,000 shares of common stock at $1.00 per share to Frost Gamma Investments Trust for total proceeds of $5,000,000.
Shares sold in private placement under Section 4(a)(2)/Rule 506; unregistered and subject to transfer restrictions.
Company will file a resale registration statement within 45 days and maintain effectiveness until third anniversary or full sale.
Purchaser represented as accredited investor; shares fully paid and nonassessable.
Agreement includes customary representations, warranties, and registration rights.

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

VERU INC. entered into Purchase Agreement with Frost Gamma Investments Trust valued at $5,000,000 (effective 2023-04-12).

Action: entry
Agreement: equity purchase
Counterparty: Frost Gamma Investments Trust
Value: $5,000,000
Effective: 2023-04-12

Exact text from the filing

On April 12, 2023, Veru Inc. (the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”) with Frost Gamma Investments Trust (the “Purchaser”), pursuant to which, on the date thereof, the Company issued and sold 5,000,000 shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), to the Purchaser at a purchase price of $1.00 per share, for a total investment of $5,000,000.

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VERU INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-099796

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