TradeUP Acquisition Corp. enters $10M PIPE agreements with price adjustment for Estrella merger

Estrella Immunopharma, Inc.

Two investors commit $5M each at $10/share; additional shares if VWAP < $8.30 at closing or after 24 months.
Pro forma combined equity ~$10.9M as of June 30; estimated to drop to ~$6.2M by Oct 2023 due to burn rate.
Closing conditioned on Business Combination; funds returned if merger doesn't close within 2 business days of expected date.
Company to file resale registration statement; must be effective within 90 days or 10 business days after SEC notice.
Subscription agreements include representations, warranties, and indemnification for Securities Act liabilities.

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

Estrella Immunopharma, Inc. entered into Subscription Agreements with Plentiful Limited and Lianhe World Limited valued at $5,000,000 shares (effective 2023-09-14).

Action: entry
Agreement: equity purchase
Counterparty: Plentiful Limited and Lianhe World Limited
Value: $5,000,000 shares
Effective: 2023-09-14

Exact text from the filing

On September 14, 2023, TradeUP Acquisition Corp. (the “Company” or “UPTD”) entered into subscription agreements (the “Subscription Agreements”) with each of Plentiful Limited, a Samoan limited company (“Plentiful Limited”) and Lianhe World Limited, a company incorporated in the People’s Republic of China (“Lianhe World” and together with Plentiful Limited, the “Investors”)

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Estrella Immunopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-077995

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