other_material
confidence high
sentiment neutral
materiality 0.60
Palomino Labs completes $1.88M second closing of private placement; total proceeds $16.98M
Palomino Laboratories Inc.
- Second closing on Apr 30, 2026: 470,000 shares at $4.00/share, gross proceeds $1,880,000.
- Combined with initial closing (3,773,853 shares at $4.00), total shares 4,243,853 and aggregate proceeds $16,975,412.
- Laidlaw & Company received cash fees (10% of introduced proceeds, 5% of company-introduced) and expense reimbursement.
- Placement agent also received 374,761 warrants at $4.80 exercise price (120% of offering price), 5-year term, cash exercise.
- Offering exempt under Section 4(a)(2) and Rule 506 of the Securities Act to accredited investors.