other material
confidence high
sentiment neutral
materiality 0.60
Lightwave Logic enters $33M equity line of credit with Lincoln Park Capital
Lightwave Logic, Inc.
- Up to $33M of common stock can be sold to Lincoln Park over 36 months.
- Initial purchase of 327,511 shares at $9.16/share plus 30,312 commitment shares issued as fee.
- Regular purchases up to 250K shares/day at price = lesser of day's low or avg of three lowest closes over prior 10 BDs.
- Accelerated purchases allow up to 3x regular amount or 30% of volume at 96.5% of VWAP or closing price.
- Proceeds to be used for working capital and general corporate purposes.