secwatch.observer — SEC 8-K summary
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Issuer:     Unicycive Therapeutics, Inc. (UNCY)
CIK:        0001766140
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001213900-24-022623
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unicycive raises $50M in private placement of Series B Convertible Preferred Stock
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- $50M gross proceeds from sale of 50,000 Series B shares at $1,000 each; close expected March 18, 2024.
- Conversion price set at $1.00 per share; conversion contingent on stockholder approval of share issuance.
- Annual dividend of 8%, increasing to 14% if stockholder approval is not obtained at first meeting.
- Led by new investors Octagon Capital and Great Point Partners, with participation from Logos Capital, Nantahala Capital, SilverArc Capital, Velan Capital, Vivo Capital, and Walleye Capital.
- Proceeds to support pivotal trial of Oxylanthanum Carbonate (OLC) and general working capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1766140/000121390024022623/0001213900-24-022623-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1766140/000121390024022623/ea0201825-8k_unicycive.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-022623

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer