LogicMark amends warrant inducement to exercise up to ~909K shares for ~$1.3M gross proceeds

LogicMark, Inc.

Correction: number of shares issuable upon exercise of Existing Warrants amended.
Holders of Sept. 2021 and Jan. 2023 warrants may exercise for cash at $2.00/share (or $2.00 per 1.5 shares for Jan. 2023 warrants).
Company will issue new Series A and Series B warrants for 200% of shares exercised; exercise price $2.00/share.
Aggregate gross proceeds up to ~$1.3M before fees; financial advisor fee 7% of gross proceeds.
New warrants include immediate exercisable (Series A-1/B-1) and stockholder-approval-dependent (Series A-2/B-2) tranches.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

LogicMark, Inc. entered into Warrant Inducement Agreements with holders of common stock purchase warrants valued at aggregate gross proceeds of up to approximately $1.3 million (effective 2023-11-21).

Action: entry
Agreement: equity purchase
Counterparty: holders of common stock purchase warrants
Value: aggregate gross proceeds of up to approximately $1.3 million
Effective: 2023-11-21

Exact text from the filing

On November 21, 2023, 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 (the “Existing September 2021 Warrants”) and (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 (the “Existing January 2023 Warrants” and together with the Existing September 2021 Warrants, the “Existing Warrants”) to purchase shares of Common Stock of the Company.

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LogicMark, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-089246

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