BioLargo secures $10M equity line from Lincoln Park Capital; issues 1.25M commitment shares

BIOLARGO, INC.

BioLargo entered purchase agreement with Lincoln Park Capital for up to $10M of common stock over 36 months.
Company may sell shares at its discretion; Lincoln Park obligated to purchase subject to conditions.
As consideration, BioLargo issued 1.25M commitment shares and will pay $250k cash fee after $3M in sales.
Proceeds will be used for working capital and general corporate purposes.
Stock sales capped at 4.99% beneficial ownership; no short sales allowed by Lincoln Park.

item 1.01 item 3.02 item 9.01

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

BIOLARGO, INC. entered into Registration Rights Agreement with Lincoln Park Capital Fund, LLC (effective 2022-12-12).

Action: entry
Counterparty: Lincoln Park Capital Fund, LLC
Effective: 2022-12-12

Exact text from the filing

On December 13, 2022, BioLargo, Inc. (the “Company” or “we”) entered into a purchase agreement, dated as of December 13, 2022 (the “Purchase Agreement”), and a registration rights agreement, dated as of December 12, 2022 (the “Registration Rights Agreement”), with Lincoln Park Capital Fund, LLC (“Lincoln Park”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BIOLARGO, INC. entered into Purchase Agreement with Lincoln Park Capital Fund, LLC valued at up to $10.0 million (effective 2022-12-13).

Action: entry
Agreement: equity purchase
Counterparty: Lincoln Park Capital Fund, LLC
Value: up to $10.0 million
Effective: 2022-12-13

Exact text from the filing

On December 13, 2022, BioLargo, Inc. (the “Company” or “we”) entered into a purchase agreement, dated as of December 13, 2022 (the “Purchase Agreement”), and a registration rights agreement, dated as of December 12, 2022 (the “Registration Rights Agreement”), with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which Lincoln Park has committed to purchase up to $10.0 million of the Company’s common stock

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BIOLARGO, INC. filing history →

Source: SEC EDGAR

accession 0001437749-22-029358

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