Cuentas raises ~$5M gross in registered direct offering and private placement

Cuentas Inc.

Sold 2,123,478 shares and pre-funded warrants for 1,664,401 shares at combined price of $1.32 per unit.
Issued warrants to purchase 3,787,879 shares exercisable at $1.335 per share, starting six months after issuance.
Net proceeds expected ~$4.3M after placement agent fees and expenses; funds for general corporate purposes and working capital.
Placement agent H.C. Wainwright receives 7% cash fee and warrants to purchase 265,152 shares at $1.782 per share.

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

Cuentas Inc. entered into Purchase Agreement with an institutional investor valued at approximately $5 million (effective 2023-02-06).

Action: entry
Agreement: equity purchase
Counterparty: an institutional investor
Value: approximately $5 million
Effective: 2023-02-06

Exact text from the filing

On February 6, 2023, Cuentas Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an institutional investor (the “Investor”) for the purpose of raising approximately $5 million in gross proceeds for the Company.

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

Cuentas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-009131

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