Lexaria raises $3.6M in registered direct offering and private placement

Lexaria Bioscience Corp.

Gross proceeds of ~$3.6M from issuance of 1,558,443 shares at $2.31/share and pre-funded warrants at $2.3099.
Private placement issued unregistered warrants for up to 1,558,443 shares at $2.185 exercise price, 5-year term.
Net proceeds earmarked for R&D studies, patent/legal costs, and general working capital.
H.C. Wainwright acted as exclusive placement agent; fees equal 7% (6% for one investor) of gross proceeds plus agent warrants.
Officers and directors subject to 30-day lock-up on common stock and equivalents post-closing.

item 1.01 item 3.02 item 8.01 item 9.01

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 Engagement Agreement with H.C. Wainwright & Co., LLC (effective 2024-02-12).

Action: entry
Agreement: underwriting
Counterparty: H.C. Wainwright & Co., LLC
Effective: 2024-02-12

Exact text from the filing

In connection with the Offering, on February 12, 2024, the Company entered into an engagement agreement (the “Engagement Agreement”) with H.C. Wainwright & Co., LLC (the “Placement Agent”).

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

Lexaria Bioscience Corp. entered into securities purchase agreement with certain institutional investors valued at approximately $3.6 million (effective 2024-02-14).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $3.6 million
Effective: 2024-02-14

Exact text from the filing

On February 14, 2024, Lexaria Bioscience Corp., a Nevada corporation (the “Company”), entered into a securities purchase agreement (the “SPA”) with certain institutional investors

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

Lexaria Bioscience Corp. filing history →

Source: SEC EDGAR

accession 0001640334-24-000271

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