Issued $550,000 principal 8% Convertible Debenture to Alpha Capital for $500,000 cash; due Dec 31, 2024; convertible at $0.6111/sh.
Issued 5-year warrant to Alpha for 900,016 shares at $0.26/sh; triggers ratchet anti-dilution adjustments on existing instruments.
Alpha has option to purchase additional $1.1M debentures plus 1.8M warrants for $1M cash, exercisable until July 1, 2024.
Ratchet adjustments: existing Alpha debenture convertible into 4.6M shares (from 1.6M); Series C warrants become exercisable for 1.28M shares at $0.26.
Tariq Arshad resigned as SVP/Chief Medical Officer effective February 25, 2024.
Material AgreementsSEC 8-K Item 1.01/1.02confidence 0.9
AIxCrypto Holdings, Inc. entered into Securities Purchase Agreement with Alpha Capital Anstalt valued at $500,000 (effective 2024-02-26).
Action
entry
Agreement
equity purchase
Counterparty
Alpha Capital Anstalt
Value
$500,000
Effective
2024-02-26
Exact text from the filing
On February 26, 2024, Qualigen Therapeutics, Inc. (the “Company”) entered into a Securities Purchase Agreement (“Agreement”) with Alpha Capital Anstalt (“Alpha”). The transactions contemplated by the Agreement are expected to close on February 27, 2024, at which time the Company would deliver to Alpha the Debenture and the Warrant, as described below, and Alpha would pay the Company a cash purchase price of $500,000 (less expenses).
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