Scientific Industries closes $5.28M private placement; issues units at $2.00 with warrants at $2.50

SCIENTIFIC INDUSTRIES INC

Sold 2,638,076 Units at $2.00 each for total proceeds of $5,276,152 in initial closing on Dec 13, 2023.
Each Unit comprises one common share and a warrant to purchase additional shares at $2.50 per share.
Existing investors received replacement warrants for 1,257,331 shares with exercise price reduced to $2.50 and term extended to 5 years.
Placement agent received warrants to purchase 131,904 shares at $2.00 per share.
Net proceeds will fund working capital for the Bioprocessing Systems Operations.

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

SCIENTIFIC INDUSTRIES INC entered into Securities Purchase Agreement with certain investors valued at aggregate purchase price of $7,000,000 (effective 2023-12-13).

Action: entry
Agreement: equity purchase
Counterparty: certain investors
Value: aggregate purchase price of $7,000,000
Effective: 2023-12-13

Exact text from the filing

On December 13, 2023, Scientific Industries, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain investors (the “Investors”) pursuant to which the Investors agreed to subscribe and purchase up to 3,500,000 Units at a price per Unit of $2.00, or an aggregate purchase price of $7,000,000 at one or more closings

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Source: SEC EDGAR

accession 0001654954-23-015577

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