Lexaria exercises warrants for ~$4.4M, issues new warrants with $4.75 strike

Lexaria Bioscience Corp.

Existing investor exercises 2,917,032 warrants for ~$4.4M; gross proceeds ~$4.7M including new warrant consideration.
New warrants for 2,917,032 shares at $4.75 strike, expiring Feb 2029; $0.125/share consideration paid.
Company to file resale registration statement within 60 days for new warrant shares.
H.C. Wainwright earns 6% tail fee on proceeds and receives 102,097 warrants at $5.9375.
New warrants include 9.99% 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

Lexaria Bioscience Corp. entered into Warrant Exercise Agreement with an existing accredited investor valued at approximately $4.7 million (effective 2024-04-30).

Action: entry
Agreement: equity purchase
Counterparty: an existing accredited investor
Value: approximately $4.7 million
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024, Lexaria Bioscience Corp. (the “Company”) entered into a warrant exercise agreement (the “Warrant Exercise Agreement”) with an existing accredited investor (the “Investor”) to exercise in full an outstanding Common Stock Purchase Warrant (the “Exercise”) to purchase up to an aggregate of 2,917,032 shares of the Company’s common stock (the “Existing Warrant”).

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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 0001640334-24-000708

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