other material
confidence high
sentiment neutral
materiality 0.65
Azitra enters up to $20M equity line with Alumni Capital for clinical pipeline funding
Azitra, Inc.
- Purchase Agreement with Alumni Capital LP for up to $20M of common stock and warrants over 20 months.
- Azitra controls timing/amount of sales; purchase price at 90% of lowest VWAP during pricing period.
- Each purchase includes warrants for 10% of shares at 130% of purchase price, exercisable for 5 years subject to shareholder approval.
- Company must register resale of shares within 60 days; issuance exempt under Section 4(a)(2).
- Proceeds to advance pipeline for Netherton Syndrome and EGFRi-associated rash.