PetVivo reports second closing of registered direct offering; total gross proceeds $2.18M

PetVivo Holdings, Inc.

Second closing of 10,910 shares at $2.75/share occurred on April 24, 2023, completing the registered direct offering.
Total gross proceeds from offering: $2,182,355; net proceeds estimated at $2,093,898.75 after expenses.
Net proceeds to be used for commercialization of Spryng™ with OsteoCushion™ Technology, clinical trials, and working capital.
Bancroft Capital received a finder's fee of $63,456.25 (5% of $1,269,125 from three investors introduced).
Shares offered under existing S-3 registration statement; legal opinion from Fox Rothschild LLP.

item 1.01 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

PetVivo Holdings, Inc. entered into Purchase Agreements with investors valued at $2,182,355 (effective 2023-04-17).

Action: entry
Agreement: equity purchase
Counterparty: investors
Value: $2,182,355
Effective: 2023-04-17

Exact text from the filing

the Company entered into securities purchase agreement and other confirmation of ownership with investors on April 17, 2023 (collectively, the “Purchase Agreements”), pursuant to which the Company agreed to issue and sell an aggregate of 793,585 shares of its common stock (the “Registered Shares”) in a registered direct offering (the “Registered Offering”) at a purchase price of $2.75 per share.

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

PetVivo Holdings, Inc. entered into Finders Fee Agreement with Bancroft Capital, LLC valued at $63,456.25 (effective 2023-03-28).

Action: entry
Counterparty: Bancroft Capital, LLC
Value: $63,456.25
Effective: 2023-03-28

Exact text from the filing

the Company engaged the Broker, a broker-dealer registered with the SEC and a member of FINRA, pursuant to a finder’s agreement dated March 28, 2023 (“Finders Fee Agreement”) to introduce it to investors.

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PetVivo Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-013499

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