Hyperfine signs $50M at-the-market equity offering agreement with B. Riley

Hyperfine, Inc.

Hyperfine entered into an ATM Sales Agreement with B. Riley Securities for up to $50M of Class A common stock.
Commission to B. Riley is 3.0% of gross proceeds; sales subject to effectiveness of Form S-3 filed Nov 9, 2023.
Company may sell shares at its discretion from time to time with no minimum obligation; ATM sales under Rule 415.
Proceeds not specified; offering provides capital-raising flexibility with potential dilution.

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

Hyperfine, Inc. entered into Sales Agreement with B. Riley Securities, Inc. valued at $50.0 million (effective 2023-11-09).

Action: entry
Agreement: atm program
Counterparty: B. Riley Securities, Inc.
Value: $50.0 million
Effective: 2023-11-09

Exact text from the filing

On November 9, 2023, Hyperfine, Inc. (the “Company”) entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (“B. Riley”) with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of its Class A common stock, par value $0.0001 per share (the “Class A common stock”), having an aggregate offering price of up to $50.0 million (the “Placement Shares”) through or to B. Riley as sales agent or principal.

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Source: SEC EDGAR

accession 0001193125-23-274593

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