other material
confidence high
sentiment neutral
materiality 0.50
SCWorx raises $535k via private placement of common stock and warrants
SCWorx Corp.
- Issued 298,883 shares of common stock and a warrant to purchase 298,883 shares at $1.79 per share.
- Gross proceeds of $535,000 from institutional accredited investor; closed September 17, 2021.
- Proceeds to be used for working capital and general corporate purposes; cannot be used for debt repayment or litigation.
- Registration rights agreement requires filing of resale registration statement within 45 days of closing.
- Company restricted from issuing securities to others until 90 days after registration effectiveness or Rule 144 eligibility, with limited exceptions.