Enveric Biosciences enters $10M ATM equity distribution agreement with Canaccord Genuity

Enveric Biosciences, Inc.

Initial offering limited to $2,392,514 due to public float restrictions under Form S-3 as of September 1, 2023.
Canaccord receives 3.0% commission on gross sales; Company to reimburse certain expenses.
Net proceeds for general corporate purposes: R&D, working capital, debt reduction, acquisitions.
Shares sold under existing effective shelf registration statement (File No. 333-257690).
Agreement includes customary representations, warranties, and indemnification provisions.

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

Enveric Biosciences, Inc. entered into Equity Distribution Agreement with Canaccord Genuity LLC valued at up to $10.0 million (effective 2023-09-01).

Action: entry
Agreement: atm program
Counterparty: Canaccord Genuity LLC
Value: up to $10.0 million
Effective: 2023-09-01

Exact text from the filing

On September 1, 2023, Enveric Biosciences, Inc. (the “Company”) entered into an Equity Distribution Agreement (the “Distribution Agreement”), with Canaccord Genuity LLC (“Canaccord”), pursuant to which the Company may offer and sell from time to time, through Canaccord as sales agent and/or principal, shares of common stock of the Company, par value $0.01 per share (the “Common Stock”), having an aggregate offering price of up to $10.0 million.

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Enveric Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-031526

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