Innoveren Scientific raises $100K in PIPE; issues shares to insiders for salary and debt

Innoveren Scientific, Inc.

Sold 400,000 shares and 400,000 warrants to accredited investor for $100,000 gross proceeds.
Warrants exercisable at $0.50 per share with five-year term.
Issued 186,048 shares to executives for accrued salary and 213,952 shares to directors for fees at $0.25/share.
Converted $43,091 CEO promissory note into 172,364 shares and 172,364 warrants at same price as investor.

item 1.01 item 3.02 item 5.02 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

Innoveren Scientific, Inc. entered into Purchase Agreement with an accredited investor (effective 2024-02-23).

Action: entry
Agreement: equity purchase
Counterparty: an accredited investor
Effective: 2024-02-23

Exact text from the filing

On February 23, 2024, Innoveren Scientific, Inc. (the “Company”) entered into a securities purchase agreement with an accredited investor for the sale of shares of Common Stock and warrants (the “Purchase Agreement”).

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Source: SEC EDGAR

accession 0001493152-24-008223

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