Focus Universal enters into $25M at-the-market equity offering agreement with Sutter Securities

FOCUS UNIVERSAL INC.

Entered into Sales Agreement with Sutter Securities to sell up to $25M of common stock in ATM offering.
Agent commission of 3.0% of gross proceeds; offering made under existing S-3 shelf registration.
Sales will be made directly on Nasdaq or to market makers at prevailing market prices.
Company may suspend offering at any time; no obligation to sell all 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

FOCUS UNIVERSAL INC. entered into Sales Agreement with Sutter Securities, Inc. valued at up to $25,000,000 (effective 2022-12-09).

Action: entry
Agreement: atm program
Counterparty: Sutter Securities, Inc.
Value: up to $25,000,000
Effective: 2022-12-09

Exact text from the filing

On December 9, 2022, Focus Universal Inc. (the “Company”) entered into an At the Market Sales Agreement (the “Sales Agreement”) with Sutter Securities, Inc., as sales agent (the “Agent”), to sell shares of its common stock, $0.001 par value per share (the “Common Stock”), having an aggregate offering price of up to $25,000,000

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FOCUS UNIVERSAL INC. filing history →

Source: SEC EDGAR

accession 0001683168-22-008332

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