Enveric issues 458K shares at $0.94 to waive equity line restriction; no proceeds

Enveric Biosciences, Inc.

Issued 458,000 shares to institutional investors at $0.94 per share in registered direct offering.
Offering is to permanently waive variable rate transaction limitation from December 2023 Inducement Letters.
Company will not receive any net proceeds; waiver enables use of existing equity line of credit.
Company restricted from issuing additional shares for 30 days or until 15 million shares trade.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Enveric Biosciences, Inc. entered into Purchase Agreements with certain institutional investors valued at at a deemed offering price of $0.94 per share (effective 2024-05-03).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: at a deemed offering price of $0.94 per share
Effective: 2024-05-03

Exact text from the filing

On May 3, 2024, Enveric Biosciences, Inc., a Delaware corporation (the “Company”) entered into a series of common stock purchase agreements (the “Purchase Agreements”) for the issuance in a registered direct offering of an aggregate of 458,000 shares of the Company’s common stock, par value $0.01 per share (the “Shares”), to certain institutional investors.

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329 material agreements filed in the last 30 days. Browse all material agreements →

Enveric Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-017748

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