other material
confidence high
sentiment negative
materiality 0.70
ProPhase Labs enters $7.73M equity line with Keystone Capital; issues 352,176 commitment shares
ProPhase Labs, Inc.
- Up to $7,730,973 of common stock may be sold to Keystone Capital at 90% of lowest traded price or VWAP.
- Commitment fee: 352,176 shares issued to investor as consideration for the purchase commitment.
- Use of proceeds: working capital and general corporate purposes; 30% to redeem preferred stock if issued.
- Each fixed purchase limited to lower of 100,000 shares or $100,000; VWAP purchases capped at $5M aggregate.
- Investor prohibited from short sales or hedging during term; company retains termination right upon one day notice.