Dermata Therapeutics raises ~$1.8M via registered direct offering and private placement

Dermata Therapeutics, Inc.

Sold 800,877 shares (or common stock equivalents) at $2.285 per share, gross proceeds ~$1.8M.
Issued warrants to purchase up to 800,877 shares at $2.16/share, exercisable immediately, 5.5-year term.
Placement agent H.C. Wainwright will receive 7% cash fee and warrants for 56,061 shares at $2.8563/share.
Closing expected on or about May 26, 2023, subject to customary conditions.
Proceeds to be used for general corporate purposes including R&D, clinical trials, and working capital.

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 the investors named on the signature pages thereto valued at approximately $1.8 million (effective 2023-05-23).

Action: entry
Agreement: equity purchase
Counterparty: the investors named on the signature pages thereto
Value: approximately $1.8 million
Effective: 2023-05-23

Exact text from the filing

On May 23, 2023, Dermata Therapeutics, Inc. (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with the investors named on the signature pages thereto (collectively, the “ Purchasers ”), pursuant to which the Company agreed to sell and issue, in a registered direct offering, an aggregate of (i) 458,555 shares (the “ Shares ”) of common stock, par value $0.0001, of the Company (“ Common Stock ”) at a purchase price of $2.285 per Share and accompanying Warrant (as defined below), and (ii) 342,322 pre-funded warrants (the “ Pre-Funded Warrants ”) to purchase up to an aggregate of 342,322 shares of Common Stock (the “ Pre-Funded Warrant Shares ”) at a purchase price of $2.2849 per Pre-Funded Warrant and accompanying Warrant, for aggregate gross proceeds to the Company of approximately $1.8 million

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Dermata Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-007177

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