JanOne raises ~$300K via registered direct offering of 79,782 units at $3.775/unit

AI Financial Corp

Sold 79,782 units, each consisting of one share of common stock and one warrant to purchase one share at $3.63.
Gross proceeds approximately $300,000; net proceeds for working capital and general corporate purposes.
Warrants have a three-year term; investors are two non-U.S. accredited institutional investors.
Closing occurred on May 1, 2024; no placement agent was used.
Offering made under effective shelf registration statement (File No. 333-278784).

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

AI Financial Corp entered into Securities Purchase Agreement with two certain institutional investors valued at approximately $300,000 (effective 2024-05-01).

Action: entry
Agreement: equity purchase
Counterparty: two certain institutional investors
Value: approximately $300,000
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, JanOne Inc. (the “ Company ” or “ our ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with two certain institutional investors (the “ Investors ”) for the sale by the Company in a registered direct offering priced at-the-market under the rules of The Nasdaq Stock Market (the “ Offering ”) of 79,782 units (the “ Units ”) of the Company’s securities, each Unit consisting of one share of our common stock, par value $0.001 per share (“ Common Stock ”), and one common stock purchase warrant for the purchase of an additional share of Common Stock (“ Warrants ”), at a purchase price of $3.775 per Unit.

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Source: SEC EDGAR

accession 0001493152-24-017936

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