Inspire enters $30M common stock purchase agreement with Tumim Stone Capital

INSPIRE VETERINARY PARTNERS, INC.

Up to $30M aggregate gross purchase price; shares sold at 95% of lowest VWAP over 3 days following purchase notice.
Exchange cap of 1,214,293 shares (19.99% of outstanding) unless stockholder approval or average price >= $0.4954.
Commitment fee of $600K payable in shares or cash; investor restricted from short sales or hedging.
Proceeds used for working capital and general corporate purposes.
Registration Rights Agreement requires resale registration statement filed within 30 days, effective within 75-180 days.

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

INSPIRE VETERINARY PARTNERS, INC. entered into Purchase Agreement with Tumim Stone Capital LLC valued at up to $30 million (effective 2023-11-30).

Action: entry
Agreement: equity purchase
Counterparty: Tumim Stone Capital LLC
Value: up to $30 million
Effective: 2023-11-30

Exact text from the filing

On November 30, 2023, Inspire Veterinary Partners, Inc. (“Inspire” or the “Company”) entered into a common stock purchase agreement (the “Purchase Agreement”) with Tumim Stone Capital LLC (the “Investor”), pursuant to which the Investor has committed to purchase, subject to certain conditions and limitations, up to $30 million (the “Total Commitment”) of shares of Inspire’s Class A common stock

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

INSPIRE VETERINARY PARTNERS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-093214

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