Connexa Sports raises $1.46M via warrant exercise inducement; issues new warrants for 9.9M shares

AIRWA INC.

Entered inducement letter with a holder to exercise 4,972,203 existing warrants at reduced exercise price of $0.294/share, raising $1,461,827.68.
Issued new warrants to purchase up to 9,944,406 shares (200% of exercised shares) at $0.294/share, exercisable after Nasdaq shareholder approval for 5.5 years.
New warrants have anti-dilution adjustments and may be reduced further based on VWAP after a reverse stock split.
Company agreed to file a resale registration statement for new warrant shares within 60 days and to grant holder participation rights in future financings until a promissory note is repaid.

item 1.01 item 3.02 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

AIRWA INC. entered into Inducement Letter with a certain holder valued at $1,461,827.68 (effective 2023-12-06).

Action: entry
Agreement: equity purchase
Counterparty: a certain holder
Value: $1,461,827.68
Effective: 2023-12-06

Exact text from the filing

On December 6, 2023, Connexa Sports Technologies Inc. (the “Company”) entered into a inducement offer letter agreement (the “Inducement Letter”) with a certain holder (the “Holder”) of certain of the Company’s existing warrants

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AIRWA INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-043947

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