SAB Biotherapeutics, Inc. (SABS): debt financing — SAB Biotherapeutics settles Ladenburg lawsuit; issues warrant and agrees to pay $3.1M

SAB Biotherapeutics, Inc.

Issued warrant for 300,000 shares at $0.5424 per share and paid $500K cash upfront.
Must pay $1.5M by June 30, 2023, and $1.1M by Dec 31, 2023, in cash or stock at Company's option.
Ladenburg Action will be dismissed with prejudice after obligations completed.
Warrant issued under Section 4(a)(2) and Rule 506 of Regulation D as unregistered sale.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SAB Biotherapeutics, Inc. incurred debt of pay $1.5 million to Ladenburg in cash or shares of common stock, at the Company’s option; and (ii) no later than Decembe with Ladenburg Thalmann & Co. Inc. maturing December 31, 2023.

Principal: pay $1.5 million to Ladenburg in cash or shares of common stock, at the Company’s option; and (ii) no later than Decembe
Counterparty: Ladenburg Thalmann & Co. Inc.
Maturity: December 31, 2023
Event: incurrence

Exact text from the filing

On March 21, 2023, SAB Biotherapeutics, Inc., a Delaware corporation (the “Company”) entered into a settlement agreement with Ladenburg Thalmann & Co. Inc. (the “2023 Ladenburg Agreement”, and the action brought by Ladenburg, the “Ladenburg Action”), effective March 23, 2023.

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SAB Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-007867

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