Inspire amends Tumim Stone financing agreement; adds ownership caps, warrant conversion, cash alternative

INSPIRE VETERINARY PARTNERS, INC.

New cap limits Tumim Stone beneficial ownership to 4.99%; excess converted to warrant at $0.0001/share.
If issuance >19.99% and no stockholder approval by May 24, 2024, Company pays $600k cash to Tumim Stone.
Registration statement deadline extended to January 31, 2024 for Tumim Stone share resale.
Unregistered shares issued under Section 4(a)(2) and Rule 506(b); proceeds for general working capital.

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

INSPIRE VETERINARY PARTNERS, INC. amended Common Stock Purchase Agreement Amendment with Tumim Stone Capital LLC valued at Amendments to commitment share issuance threshold at 4.99% beneficial ownership, warrant with exerci (effective 2023-12-28).

Action: amendment
Agreement: equity purchase
Counterparty: Tumim Stone Capital LLC
Value: Amendments to commitment share issuance threshold at 4.99% beneficial ownership, warrant with exerci
Effective: 2023-12-28

Exact text from the filing

On December 28, 2023, Inspire Veterinary Partners, Inc. ("Inspire" or the "Company") entered into an agreement (the "Agreement") with Tumim Stone Capital LLC (the "Investor"), pursuant to which the Investor and the Company agreed to certain amendments to the previously disclosed common stock purchase agreement (the "Purchase Agreement") and the registration rights agreement (the "Registration Rights Agreement"), each dated as of November 30, 2023, by and between the Company and the Investor.

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INSPIRE VETERINARY PARTNERS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-001203

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