Veru signs $100M common stock purchase agreement with Lincoln Park Capital

VERU INC.

Up to $100M of common stock over 36 months; regular purchases ≤225,000 shares/day.
Larger purchases possible at higher stock prices; purchase price based on VWAP or closing price.
Commitment fee of 800,000 shares upfront; additional $1M shares at $50M cumulative purchases.
Exchange cap 17,678,502 shares (19.99% of outstanding) unless shareholder approval or price >$1.26.
Proceeds to be used for working capital and general corporate purposes.

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 Lincoln Park Capital Fund, LLC valued at up to $100,000,000 (effective 2023-05-02).

Action: entry
Agreement: equity purchase
Counterparty: Lincoln Park Capital Fund, LLC
Value: up to $100,000,000
Effective: 2023-05-02

Exact text from the filing

On May 2, 2023, Veru Inc. (the “Company”), entered into a purchase agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park” or “Investor”) (each, a “Party”, and together, the “Parties”), which provides that, upon the terms and subject to the conditions and limitations set forth therein, the Company may sell to Lincoln Park up to $100,000,000 of shares (the “Purchase Shares”) of the Company’s common stock

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

VERU INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-133437

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