Enveric Biosciences raises $1.8M via warrant exercise inducement at $1.37/share

Enveric Biosciences, Inc.

Gross proceeds ~$1.8M from exercise of 1,122,000 existing warrants at reduced price of $1.37/share.
Issued new warrants to purchase up to 2,244,000 shares at $1.37, exercisable for 5 years.
Paid $0.125 cash inducement per new warrant share upon exercise of existing warrants.
Roth Capital acted as financial advisor; advisory fees ~$108,000.
Company to file resale registration statement for new warrant shares by Jan 8, 2024.

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 Inducement Letters with certain holders valued at approximately $1.8 million (effective 2023-12-28).

Action: entry
Agreement: equity purchase
Counterparty: certain holders
Value: approximately $1.8 million
Effective: 2023-12-28

Exact text from the filing

On December 28, 2023, Enveric Biosciences, Inc., a Delaware corporation (the “Company”) entered into warrant exercise inducement offer letters (the “Inducement Letters”) with certain holders (the “Holders”) of warrants to purchase shares of the Company’s common stock (the “Existing Warrants”) pursuant to which the Holders agreed to exercise for cash their Existing Warrants to purchase 1,122,000 shares of the Company’s common stock, in the aggregate, at a reduced exercised price of $1.37 per share, in exchange for the Company’s agreement to issue new warrants (the “Inducement Warrants”)

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Enveric Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-046601

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