Neuraxis secures $3M financing via Series B preferred stock at $2.38/share

Neuraxis, INC

Aggregate purchase price $3,000,000; paid in 15 monthly installments of $200,000 each.
Transaction subject to stockholder approval of Series B Preferred Stock amendment.
Series B convertible into common stock; ranks senior to common on liquidation.
Funds to support sales/marketing for IB-Stim™ and launch of RED device in 2024.
Investor is Flagstaff International, an affiliate of Inspire Health Alliance.

item 1.01 item 8.01 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

Neuraxis, INC entered into SPA with Flagstaff International, LLC valued at $3,000,000 (effective 2023-11-09).

Action: entry
Agreement: equity purchase
Counterparty: Flagstaff International, LLC
Value: $3,000,000
Effective: 2023-11-09

Exact text from the filing

On November 9, 2023, Neuraxis, Inc. (the “Company”) entered into a securities purchase agreement (the “SPA”) with Flagstaff International, LLC ( “Flagstaff International”) for the issuance and purchase of the Company’s Series B Convertible Preferred Stock, par value $0.001 per share (the “Series B Preferred Stock”), at price per share of $2.38. The aggregate purchase price is $3,000,000

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

Neuraxis, INC entered into Registration Rights Agreement with Flagstaff International (effective 2023-11-09).

Action: entry
Counterparty: Flagstaff International
Effective: 2023-11-09

Exact text from the filing

In connection with the SPA, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with Flagstaff International.

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Neuraxis, INC filing history →

Source: SEC EDGAR

accession 0001493152-23-040826

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