LogicMark enters warrant inducement to raise up to $1.38M; issues 200% new warrants

LogicMark, Inc.

Up to 691,397 shares exercised at $2.00/share; gross proceeds up to ~$1.38M.
Holders receive new Series A and B warrants to purchase 200% of exercised shares.
Company to seek stockholder approval within 180 days and file resale registration statement.
Proceeds to be used for working capital and general corporate purposes.
Financial advisor fee of 7% of gross proceeds plus up to $30,000 in expenses.

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

LogicMark, Inc. entered into 2021 Inducement Agreement with certain holders of the Company’s common stock purchase warrants issued pursuant to a firm commitment public offering that closed on September 15, 2021 valued at aggregate gross proceeds of up to approximately $1.38 million (effective 2023-11-21).

Action: entry
Agreement: equity purchase
Counterparty: certain holders of the Company’s common stock purchase warrants issued pursuant to a firm commitment public offering that closed on September 15, 2021
Value: aggregate gross proceeds of up to approximately $1.38 million
Effective: 2023-11-21

Exact text from the filing

On November 21, 2023, LogicMark, Inc. (the “Company”) entered into (i) a warrant inducement agreement (the “2021 Inducement Agreement”) with certain holders of the Company’s common stock purchase warrants issued pursuant to a firm commitment public offering that closed on September 15, 2021

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LogicMark, Inc. entered into 2023 Inducement Agreement with certain holders of the Company’s common stock purchase warrants issued pursuant to a firm commitment public offering that closed on January 25, 2023 valued at aggregate gross proceeds of up to approximately $1.38 million (effective 2023-11-21).

Action: entry
Agreement: equity purchase
Counterparty: certain holders of the Company’s common stock purchase warrants issued pursuant to a firm commitment public offering that closed on January 25, 2023
Value: aggregate gross proceeds of up to approximately $1.38 million
Effective: 2023-11-21

Exact text from the filing

(ii) a warrant inducement agreement (the “2023 Inducement Agreement” and together with the 2021 Inducement Agreement, the “Inducement Agreements”) with certain holders of the Company’s common stock purchase warrants issued pursuant to a firm commitment public offering that closed on January 25, 2023

View on SEC.gov

Browse all material agreements →

LogicMark, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-088953

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.