RenovoRx raises $5M in registered direct offering and private placement of common stock and warrants

RenovoRx, Inc.

Gross proceeds of ~$5M from sale of 1,557,632 shares (or pre-funded warrants) at $3.21 per share.
Concurrent private placement of warrants to purchase 1,947,040 shares at $3.21, exercisable for 5.5 years.
Offering priced at-the-market under Nasdaq rules; closing on April 3, 2023.
Roth Capital Partners acted as exclusive placement agent; net proceeds for working capital and general corporate purposes.
Pre-funded warrants priced at $3.2099 each to avoid investor exceeding 4.99% beneficial ownership.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

RenovoRx, Inc. entered into Securities Purchase Agreement with a certain institutional investor valued at approximately $5.00 million (effective 2023-03-30).

Action: entry
Agreement: equity purchase
Counterparty: a certain institutional investor
Value: approximately $5.00 million
Effective: 2023-03-30

Exact text from the filing

On March 30, 2023, RenovoRx, Inc. (the “ Company ,” “ we ” or “ us ”) entered into a securities purchase agreement (“ Securities Purchase Agreement ”) with a certain institutional investor (“ Purchaser ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

RenovoRx, Inc. entered into Placement Agreement with Roth Capital Partners, LLC (effective 2023-03-30).

Action: entry
Agreement: underwriting
Counterparty: Roth Capital Partners, LLC
Effective: 2023-03-30

Exact text from the filing

Roth Capital Partners, LLC (the “ Placement Agent ”) acted as the exclusive placement agent for the Offerings, pursuant to a placement agency agreement (the “ Placement Agreement ”), dated March 30, 2023, by and between the Company and the Placement Agent.

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RenovoRx, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-010652

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