INBS closes $220k private placement of Series D convertible preferred and warrants

INTELLIGENT BIO SOLUTIONS INC.

Gross proceeds of $220,585 from sale of 176,462 Series D convertible preferred shares and 529,386 warrants at $1.25/unit.
Each preferred share initially convertible into 3 common shares; warrants exercisable at $0.29/share for 5 years.
Conversion requires shareholder approval; preferred shares carry voting rights only on reverse stock split proposals.
Insider participation: CFO Spiro Sakiris ($19,991) and Director Manuel Kostandas ($13,327) purchased 26,655 units combined.
Proceeds to be used for general working capital; placement agent Winx Capital receives 6% fee and 26,469 warrants.

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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

INTELLIGENT BIO SOLUTIONS INC. entered into Purchase Agreement with 14 investors valued at $220,585 (effective 2022-12-21).

Action: entry
Agreement: equity purchase
Counterparty: 14 investors
Value: $220,585
Effective: 2022-12-21

Exact text from the filing

On December 21, 2022, Intelligent Bio Solutions Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with 14 investors (the “Investors”), pursuant to which the Company agreed to issue and sell to the Investors in a Regulation S private placement (the “Transaction”) (i) 176,462 shares of the Company’s Series D Convertible Preferred Stock (the “Preferred Stock”), par value $0.01 per share (the “Preferred Stock”), and (ii) 529,386 warrants (the “Warrants”), with each Warrant representing the right to purchase one share of the Company’s common stock (“Common Stock”).

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

INTELLIGENT BIO SOLUTIONS INC. entered into Engagement Letter with Winx Capital Pty Ltd. (effective 2022-12-16).

Action: entry
Agreement: equity purchase
Counterparty: Winx Capital Pty Ltd.
Effective: 2022-12-16

Exact text from the filing

On December 16, 2022, the Company entered into Engagement Letter (the “Engagement Letter”) with Winx Capital Pty Ltd. ( CAR for AFSL (Australian Financial Services License) #330757) (“Winx Capital”) pursuant to which Winx Capital agreed to serve as a consultant acting as placement agent on a best efforts basis in connection with the private placement of the Units in the Transaction.

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INTELLIGENT BIO SOLUTIONS INC. filing history →

Source: SEC EDGAR

accession 0001493152-22-036357

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