other material
confidence high
sentiment positive
materiality 0.75
Cyabra raises $6M in private placement; preferred shares to convert into common stock
CYABRA, INC.
- Gross proceeds of ~$6M from sale of 13,818,770 shares (or equivalents) and Series A/B warrants at $0.435/unit.
- Series A warrants exercisable at $0.50 for 5 years; Series B at $0.45 for 12 months, both subject to stockholder approval.
- All outstanding Series A and B preferred shares (35,648,276 shares) to convert into common at $0.435, subject to stockholder approval.
- Series C preferred holder exchanges $10.66M of preferred for securities in the offering, also subject to stockholder approval.
- New and existing institutional investors, management, and board members participated; A.G.P./Alliance Global Partners acted as placement agent.