Idaho Copper raises $1.692M in private placement of units with preferred and warrants

Idaho Copper Corp

Sold 141 units at $12,000 each for total gross proceeds of $1,692,000 to 23 accredited investors.
Each unit: one share of Series A Convertible Non-Voting Preferred (convertible into 50,000 common) and 62,500 warrants (exercise $0.24, 3-year term).
Proceeds to be used for working capital and general corporate purposes.
Newbridge Securities acted as sole placement agent; receives 10% cash commission on gross proceeds.
Company must file resale registration statement within 90 business days after closing, with penalty of 2.5% per 30 days (max 10%) if late.

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

Idaho Copper Corp entered into Subscription Agreement with 23 accredited investors valued at $1,692,000 (effective 2024-02-28).

Action: entry
Agreement: equity purchase
Counterparty: 23 accredited investors
Value: $1,692,000
Effective: 2024-02-28

Exact text from the filing

On February 28, 2024, Idaho Copper Corporation, a Nevada corporation (the “Company”), entered into subscription agreements (each a “Subscription Agreement”) with 23 accredited investors (each, a “Subscriber” and collectively, the “Subscribers”), pursuant to which the Company offered and sold to the Subscribers in a private placement offering (the “Offering”), a total of 141 units (each, a “Unit” and, collectively, the “Units”), for a purchase price of $12,000 per Unit, and a total purchase price of $1,692,000.

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Idaho Copper Corp filing history →

Source: SEC EDGAR

accession 0001493152-24-008830

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