CytoDyn raises ~$7.9M in private placement; issues shares in note exchange

CytoDyn Inc.

Exchanged $0.5M secured convertible note for 2.5M newly issued common shares on Jan 23, 2023.
Private placement of ~34.2M units at $0.23/unit; total subscriptions ~$7.9M as of Jan 31, 2023.
Each unit includes one share and one five-year warrant with $0.50 exercise price.
Down round provision triggered in Dec 2022; issued ~0.5M additional shares to warrant holders.
Placement agent receives 12% cash fee plus 10-year warrants for 15% of shares sold.

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