CytoDyn raises $21.8M in private placement; appoints Cyrus Arman as President

CytoDyn Inc.

Raised ~$21.8M gross via ~85.4M units at $0.255/unit; each unit = 1 share + 3/4 warrant (5-yr term).
Cyrus Arman, Ph.D. appointed President effective July 9, 2022; replaces interim President Migliarese who stays CFO.
Arman's base salary $458K, target bonus 40%, equity grants (options $750K, RSUs/PSUs $375K) subject to shareholder vote.
Placement agent receives 13% cash fee + ~19.4M warrants (10-yr) subject to shareholder approval of authorized share increase.
Issued 43,657 shares to former executive for severance obligation of $15,523.

item 3.02 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Antonio Migliarese

Chief Financial Officer, Corporate Secretary and Treasurer

CYDY · CytoDyn Inc.

Effective: 2022-07-09
Filed: June 30, 2022, 7:59 PM ET

Antonio Migliarese, who was appointed as interim President on January 24, 2022, will cease to be President on July 9, 2022, but will continue in his roles of Chief Financial Officer, Corporate Secretary and Treasurer, as well as serving as the Company’s principal accounting officer.

Appointed

Cyrus Arman

President

CYDY · CytoDyn Inc.

Effective: 2022-07-09
Filed: June 30, 2022, 7:59 PM ET

entered into an employment agreement with Cyrus Arman, Ph.D. (the “Employment Agreement”), under which he will be employed as the Company’s President on an at-will basis beginning on July 9, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Antonio Migliarese changed role as Chief Financial Officer, Corporate Secretary and Treasurer at CytoDyn Inc..

Action: ceased to be President
Role: Chief Financial Officer, Corporate Secretary and Treasurer

Exact text from the filing

Antonio Migliarese, who was appointed as interim President on January 24, 2022, will cease to be President on July 9, 2022, but will continue in his roles of Chief Financial Officer, Corporate Secretary and Treasurer, as well as serving as the Company’s principal accounting officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Cyrus Arman was appointed as President at CytoDyn Inc..

Action: appointed
Role: President

Exact text from the filing

entered into an employment agreement with Cyrus Arman, Ph.D. (the “Employment Agreement”), under which he will be employed as the Company’s President on an at-will basis beginning on July 9, 2022.

View on SEC.gov

CytoDyn Inc. filing history →

Source: SEC EDGAR

accession 0001558370-22-010484

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