other material
confidence high
sentiment neutral
materiality 0.45
Cuentas raises $3M via private placement of stock and warrants at $0.71/unit
Cuentas Inc.
- Gross proceeds of ~$3M from sale of 4,224,044 shares (or equivalents) and similar number of warrants to an institutional investor.
- Unit price $0.71022; common stock warrants exercisable at $0.59 per share for 5.5 years.
- Pre-funded warrants for up to 2,569,044 shares at $0.0001 exercise price included in the placement.
- H.C. Wainwright served as placement agent, receiving 7% cash fee and a 5.5-year warrant for 295,683 shares at $0.8878.
- Net proceeds earmarked for general working capital, marketing, and corporate expenses.