other material
confidence high
sentiment neutral
materiality 0.70
ZyVersa Therapeutics induces warrant exercise for up to 12.1M shares; issues new warrants
ZyVersa Therapeutics, Inc.
- Holder to exercise up to 12,121,213 existing warrants at reduced price (lower of that day's close or 5-day average) by Sep 18, 2023.
- In exchange, ZyVersa issues new warrants to purchase same number of shares, exercisable at same reduced price starting 6 months after issuance for 5 years.
- New warrants are unregistered, issued under Section 4(a)(2); existing warrant shares are registered.
- A.G.P./Alliance Global Partners acts as financial advisor with 6% fee on gross proceeds.
- Beneficial ownership blocker set at 4.99% or 9.99% per holder election.