U.S. Gold Corp. raises ~$5M via registered direct offering of 870K shares and warrants

U.S. GOLD CORP.

Sale of 870,000 shares at $5.75 each plus warrants to buy 870,000 shares at $6.16.
Gross proceeds of approximately $5.0 million; closing on April 10, 2023.
Existing warrants to purchase 625,000 shares amended: exercise price lowered from $8.60 to $6.16, term extended to October 10, 2028.
A.G.P./Alliance Global Partners acted as sole placement agent.
Warrants become exercisable six months after issuance and expire five years later.

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

U.S. GOLD CORP. entered into Securities Purchase Agreement with a single institutional investor valued at $5.0 million (effective 2023-04-04).

Action: entry
Agreement: equity purchase
Counterparty: a single institutional investor
Value: $5.0 million
Effective: 2023-04-04

Exact text from the filing

On April 4, 2023, U.S. Gold Corp. (“U.S. Gold” or the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with a single institutional investor in connection with a registered direct offering of 870,000 shares of common stock at a price of $5.75 per share

View on SEC.gov

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

U.S. GOLD CORP. amended Warrant Amendment (effective 2023-04-04).

Action: amendment
Effective: 2023-04-04

Exact text from the filing

On April 4, 2023, U.S. Gold agreed to amend, effective as of the closing of the Registered Offering, certain existing warrants to purchase up to 625,000 shares of the Company at an exercise price of $8.60 per share and a termination date of September 18, 2027, so that the amended warrants will have a reduced exercise price of $6.16 per share and a termination date of October 10, 2028 (the “Warrant Amendment”).

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U.S. GOLD CORP. filing history →

Source: SEC EDGAR

accession 0001493152-23-011718

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