Heart Test Labs amends ATM facility to allow up to $10M in common stock sales

HeartSciences Inc.

Amended Equity Distribution Agreement with Maxim Group raises offering cap from $3.25M to $10M.
Company previously sold the full $3.25M (11,065,416 shares) under the original agreement.
Shares sold under the at-the-market offering; legal fees reimbursement to Maxim capped at $65,000.
Offering registered on Form S-3; subject to one-third of non-affiliate market value limit per I.B.6.
As of Nov 9, non-affiliate market value was ~$18M based on 21.2M shares and $0.85 close price.

item 1.01 item 9.01

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

HeartSciences Inc. amended Amended EDA with Maxim Group LLC valued at up to $10,000,000 (effective 2023-11-09).

Action: amendment
Agreement: atm program
Counterparty: Maxim Group LLC
Value: up to $10,000,000
Effective: 2023-11-09

Exact text from the filing

On November 9, 2023, the Company entered into Amendment No. 1 to the Original EDA (the “Amended EDA” and together with the Original EDA, the “EDA”) with Maxim Group pursuant to which the Company may issue and sell up to $10,000,000 of its shares of Common Stock

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HeartSciences Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-085393

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