Lexaria raises $1.57M in registered direct offering and private placement

Lexaria Bioscience Corp.

Gross proceeds of $1.57M from sale of 889,272 shares at $0.97, pre-funded warrants for 729,058 shares at $0.9699, and private placement warrants for 1,618,330 shares at $0.97.
Placement agent Maxim Group LLC receives 7% cash fee; offering closed October 3, 2023.
Net proceeds to be used for R&D studies, patent costs, and general working capital.
Officers and directors subject to 30-day lock-up from September 28, 2023.
Private placement warrants exercisable after 6 months, expire 5.5 years; pre-funded warrants exercisable 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

Lexaria Bioscience Corp. entered into SPA with a certain institutional investor valued at $1,569,780.10 (effective 2023-09-28).

Action: entry
Agreement: equity purchase
Counterparty: a certain institutional investor
Value: $1,569,780.10
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Lexaria Bioscience Corp., a Nevada corporation (the “Company”), entered into a securities purchase agreement (the “SPA”) with a certain institutional investor

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

Lexaria Bioscience Corp. filing history →

Source: SEC EDGAR

accession 0001640334-23-001769

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