Tenax CEO retires; $10M PIPE priced at $2.095/unit with warrants for 9.5M shares

TENAX THERAPEUTICS, INC.

CEO Anthony DiTonno retires July 13, 2021; receives one-year salary severance, pro-rated bonus, and COBRA.
Christopher Giordano appointed CEO and director effective July 14, 2021; base salary $375,000, bonus target 50% of base.
PIPE: 4,773,269 units at $2.095 each; gross proceeds ~$10M; each unit includes a pre-funded warrant ($0.0001) and a 5.5-year warrant ($1.97).
Giordano receives inducement options for 350,000 shares: 250,000 vest over 4 years, 100,000 vest on clinical milestones.
Placement agent H.C. Wainwright gets ~$750,000 cash fee and warrants for 357,995 shares at $2.46.

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Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Anthony A. DiTonno

Chief Executive Officer

TENX · TENAX THERAPEUTICS, INC.

Effective: 2021-07-13
Successor: Christopher T. Giordano
Filed: July 8, 2021, 7:59 PM ET

On July 13, 2021, Anthony A. DiTonno will retire as the Chief Executive Officer of the Company and as a member of the Company’s Board of Directors (the “Board”) effective as of July 13, 2021.

Appointed

Christopher T. Giordano

Chief Executive Officer

TENX · TENAX THERAPEUTICS, INC.

Effective: 2021-07-14
Filed: July 8, 2021, 7:59 PM ET

On July 6, 2021, the Board appointed Christopher T. Giordano as the Company’s Chief Executive Officer and a member of its Board of Directors, effective July 14, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Anthony A. DiTonno retired as Chief Executive Officer at TENAX THERAPEUTICS, INC..

Action: retired
Role: Chief Executive Officer

Exact text from the filing

On July 13, 2021, Anthony A. DiTonno will retire as the Chief Executive Officer of the Company and as a member of the Company’s Board of Directors (the “Board”) effective as of July 13, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher T. Giordano was appointed as Chief Executive Officer at TENAX THERAPEUTICS, INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On July 6, 2021, the Board appointed Christopher T. Giordano as the Company’s Chief Executive Officer and a member of its Board of Directors, effective July 14, 2021.

View on SEC.gov

TENAX THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001654954-21-007745

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