JanOne raises $600,000 in private placement of units with warrants at $0.61/share

AI Financial Corp

Two investors purchased 408,163 units each at $0.735/unit, aggregate $600,000.
Each unit: one common share + one warrant exercisable at $0.61 for three years.
Advisor Mint Capital Advisors received 81,632 units as ~10% fee.
Proceeds used for general corporate purposes; securities unregistered under Reg D.
Warrants include 4.99% beneficial ownership limitation.

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 Unit Purchase Agreement with two otherwise unaffiliated third-party investors valued at aggregate purchase price of $600,000 (effective 2024-02-23).

Action: entry
Agreement: equity purchase
Counterparty: two otherwise unaffiliated third-party investors
Value: aggregate purchase price of $600,000
Effective: 2024-02-23

Exact text from the filing

On February 23, 2024, JanOne Inc. (the “ Company ”) entered into Unit Purchase Agreements (each, a “ Purchase Agreement ”) with two otherwise unaffiliated third-party investors (the “ Investors ”), pursuant to which each Investor agreed to purchase 408,163 units of securities from the Company (the “ Units ”), at a price per Unit of $0.735, for an aggregate purchase price of $300,000 per investor for an aggregate price of $600,000 (the “ Unit Purchases ”).

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Source: SEC EDGAR

accession 0001628280-24-007613

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