Aclarion raises $1.25M first tranche of $2M unsecured note; 15% OID, 8% interest, warrants issued

Aclarion, Inc.

First tranche gross proceeds $1.25M; company may draw additional $750,000 within 6 months.
Notes have 15% original issue discount, 8% interest, mature 12 months, unsecured and non-convertible.
Issued 1,232,156 common stock warrants with 5-year term and exercise price $0.6262 per share; full ratchet anti-dilution.
Issued 339,360 commitment shares to investors; placement agent received pre-funded warrants for 54,349 shares.
Proceeds used for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Aclarion, Inc. entered into Securities Purchase Agreement with accredited investors valued at $2.0 million unsecured non-convertible note financing; first tranche gross proceeds $1,250,000; seco (effective 2023-05-16).

Action: entry
Agreement: notes offering
Counterparty: accredited investors
Value: $2.0 million unsecured non-convertible note financing; first tranche gross proceeds $1,250,000; seco
Effective: 2023-05-16

Exact text from the filing

On May 16, 2023, Aclarion, Inc. (the “Company”, “we” and “us”) entered into a securities purchase agreement with accredited investors for an unsecured non-convertible note financing.

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Aclarion, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-003484

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