Avalo Therapeutics exchanges 1.3M shares for pre-funded warrants with Venrock affiliates

Avalo Therapeutics, Inc.

Exchanged 1,300,000 shares of common stock for pre-funded warrants exercisable for 1,300,000 shares at $0.001 per share.
Warrants include a 9.99% beneficial ownership limitation, adjustable to 19.99% with 61 days' notice.
Venrock Healthcare Capital Partners affiliates (Venrock EG, Venrock III, VHCP Co-Investment) are the exchanging stockholders.
No new cash raised; transaction exempt from registration under Section 3(a)(9) of Securities Act.
Shares exchanged represent all 1.3M shares held by Venrock entities; warrants issued immediately.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Avalo Therapeutics, Inc. entered into Exchange Agreement with entities affiliated with Venrock Healthcare Capital Partners (effective 2023-05-31).

Action: entry
Agreement: equity purchase
Counterparty: entities affiliated with Venrock Healthcare Capital Partners
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, Avalo Therapeutics, Inc. (the “Company”) entered into an exchange agreement (the “Exchange Agreement”) with entities affiliated with Venrock Healthcare Capital Partners (the “Exchanging Stockholders”), pursuant to which the Company exchanged an aggregate of 1,300,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), owned by the Exchanging Stockholders for pre-funded warrants (the “Exchange Warrants”) to purchase an aggregate of 1,300,000 shares of common stock (subject to adjustment in the event of stock splits, recapitalizations and other similar events affecting common stock), with an exercise price of $0.001 per share.

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Avalo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-020611

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