---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-017629"
form_type: "8-K"
ticker: null
cik: "0001106838"
company_name: "Sonnet BioTherapeutics Holdings, Inc."
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T22:53:10.631340+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sonnet enters $25M ChEF equity facility with Chardan; 4% VWAP discount, 36-month term

## Summary
- Up to $25M aggregate gross purchase price of common stock under ChEF Purchase Agreement with Chardan Capital Markets.
- Shares sold at a fixed 4.0% discount to VWAP; Company controls timing and amount of draws.
- 36-month investment period; $100K initial + $150K six-month commitment fees; Exchange Cap of 622,168 shares (19.99% of outstanding).
- Proceeds for R&D, clinical trials, working capital; no short sale or hedging by Chardan prior to agreement.
- Company may terminate at any time after commencement with 10 trading days' notice.

## SEC filing metadata
- accession: 0001493152-24-017629
- form_type: 8-K
- cik: 0001106838
- company_name: Sonnet BioTherapeutics Holdings, Inc.
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1106838/000149315224017629/0001493152-24-017629-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1106838/000149315224017629/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-017629
- JSON: https://secwatch.observer/filing/0001493152-24-017629.json
- Plain text: https://secwatch.observer/filing/0001493152-24-017629.txt

## Key facts
- Material Agreements
  Sonnet BioTherapeutics Holdings, Inc. entered into ChEF Purchase Agreement with Chardan Capital Markets LLC valued at $25,000,000 in aggregate gross purchase price (effective 2024-05-02).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Chardan Capital Markets LLC
  - Value: $25,000,000 in aggregate gross purchase price
  - Effective: 2024-05-02
  source text: On May 2, 2024, Sonnet BioTherapeutics Holdings, Inc., a Delaware corporation (the “Company”) entered into a ChEF Purchase Agreement (the “Purchase Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”), each with Chardan Capital Markets LLC (“Chardan”) related to a “ChEF,” Chardan’s committed equity facility (the “Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1106838/000149315224017629/0001493152-24-017629-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.