other material
confidence high
sentiment negative
materiality 0.75
CytoDyn raises ~$8.8M in private placement of 34.6M units with warrants
CytoDyn Inc.
- Raised $8,834,500 gross from ~34.6M units (1 share + 0.75 warrant) via placement agent.
- Pricing: purchase & warrant exercise price at 85% of intraday VWAP on April 29, 2022 or final close date, whichever lower.
- Placement agent fee: 13% cash + 10-year warrants for 13% of shares sold + $50K expense fee.
- Issued 23,651 shares to a former executive officer for $8,042 severance payment.
- Exemptions relied on: Rule 506 of Reg D and Section 4(a)(2).