Dermata raises $2.66M via immediate exercise of warrants at reduced price; issues new warrants

Dermata Therapeutics, Inc.

Exercise of 516,336 warrants at reduced exercise price of $5.16 per share for cash gross proceeds of ~$2.66M.
Issues new Series A warrants for 601,174 shares (exercise price $4.91, 5.5-year term) and Series B warrants for 431,498 shares (exercise price $4.91, 24-month term).
H.C. Wainwright acts as placement agent; receives 7% cash fee plus 36,144 placement agent warrants at $6.45 exercise price.
Net proceeds for general corporate purposes including R&D, clinical trials, and working capital.
Closing expected on or about May 21, 2024; resale registration statement to be filed for new warrant shares.

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 Inducement Letter with holders of Existing Warrants valued at aggregate gross proceeds of approximately $2.66 million (effective 2024-05-17).

Action: entry
Agreement: equity purchase
Counterparty: holders of Existing Warrants
Value: aggregate gross proceeds of approximately $2.66 million
Effective: 2024-05-17

Exact text from the filing

On May 17, 2024, Dermata Therapeutics, Inc. (the “ Company ”) entered into inducement offer letter agreements (each, an “ Inducement Letter ”) with holders (the “ Holders ”) of certain of the Company's existing warrants

View on SEC.gov

284 material agreements filed in the last 30 days. Browse all material agreements →

Dermata Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-006608

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.