CytoDyn reports unregistered sales of ~20.6M shares and warrants for $3.5M; note exchange adds 10.4M shares

CytoDyn Inc.

Private placement of ~20.6M units at ~$0.17/unit raised ~$3.5M; each unit = 1 share + 5-yr warrant at $0.21.
Placement agent receives 13% cash fee + warrants for 15% of shares sold (~3.1M warrants, 10-yr term).
Convertible note exchange reduced principal by $1.5M, issued ~10.4M shares to note holder in Jan-Feb 2024.
Sales triggered disclosure because aggregate unregistered sales exceeded 5% of Dec 31, 2023 outstanding shares.
Issuances exempt under Rule 506(b) (private placement) and Section 3(a)(9) (exchange).

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