Dermata Therapeutics closes $5.0M public offering of common stock and warrants

Dermata Therapeutics, Inc.

Gross proceeds of $5.0M from offering of 1.62M shares (or pre-funded warrants) plus Series A/B warrants at $2.82 exercise price.
Net proceeds approx. $4.2M; H.C. Wainwright acted as placement agent with 7.0% cash fee.
Existing warrants for 235,849 shares amended: exercise price lowered from $21.20 to $2.82, expiry extended to 5 years.
Offering closed March 20, 2023; 60-day lock-up on further equity issuance and one-year variable-rate transaction ban.

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

Dermata Therapeutics, Inc. entered into Purchase Agreement with an investor valued at approximately $4.2 million (effective 2023-03-16).

Action: entry
Agreement: equity purchase
Counterparty: an investor
Value: approximately $4.2 million
Effective: 2023-03-16

Exact text from the filing

On March 16, 2023, Dermata Therapeutics, Inc. (the " Company ") entered into a securities purchase agreement with an investor (the " Purchase Agreement ") pursuant to which the Company agreed to sell, in a best efforts public offering (the " Offering ") priced at the market under Nasdaq rules, an aggregate of (i) 85,000 shares (the " Shares ") of common stock, par value $0.0001 per share (the " Common Stock "), of the Company, (ii) pre-funded warrants (the " Pre-Funded Warrants ") to purchase up to an aggregate of 1,533,123 shares of Common Stock (the " Pre-Funded Warrant Shares "), (iii) Series A warrants (the " Series A Common Warrants ") to purchase up to an aggregate of 1,618,123 shares of Common Stock (the " Series A Warrant Shares "), and (iv) Series B warrants (the " Series B Common Warrants " and collectively with the Series A Warrants, the " Warrants ") to purchase up to an aggregate of 1,618,123 shares of Common Stock (the " Series B Warrant Shares " and together with the Ser

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Dermata Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-003181

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