JanOne raises ~$790K in registered direct offering and private placement

AI Financial Corp

Sold 899,348 shares or pre-funded warrants at $0.8811 each in registered direct offering.
Concurrent private placement of warrants exercisable at $0.7561 per share for 5 years.
Gross proceeds ~$790K; net proceeds for working capital and general corporate purposes.
H.C. Wainwright acted as placement agent; receives 7% fee and 62,954 agent warrants.
Closing occurred Aug 22, 2023; warrants and underlying shares unregistered.

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

AI Financial Corp entered into Securities Purchase Agreement with a certain institutional investor valued at approximately $790,000 (effective 2023-08-18).

Action: entry
Agreement: equity purchase
Counterparty: a certain institutional investor
Value: approximately $790,000
Effective: 2023-08-18

Exact text from the filing

(the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with a certain institutional investor (the “ Investor ”) for the sale by the Company in a registered direct offering priced at-the-market under the rules of The Nasdaq Stock Market (the “ Offering ”) of: (i) 418,000 shares (the “ Shares ”) of the Company’s common stock, par value $0.001 per share (“ Common Stock ”), at an offering price of $0.8811 per share and (ii) pre-funded warrants exercisable for up to 481,348 shares of Common Stock (the “ Pre-Funded Warrants ”) to the Investor at an offering price equal to $0.8801 (equal to the purchase price per share of Common Stock sold in this Offering, minus $0.001) per Pre-Funded Warrant.

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281 material agreements filed in the last 30 days. Browse all material agreements →

AI Financial Corp filing history →

Source: SEC EDGAR

accession 0001628280-23-030392

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