other material
confidence high
sentiment negative
materiality 0.75
Aclarion raises $1.0M via Series C convertible preferred stock and warrants
Aclarion, Inc.
- Gross proceeds of $1.0M from sale of 1,000 shares of Series C Preferred Stock at $1,000/share, convertible at $0.1759 per share.
- Issued warrants for 5,685,049 shares of common stock at $0.1759 exercise price, 5.5-year term.
- Series C Preferred Stock carries 10% annual dividend payable quarterly, with option to pay in stock or capitalize.
- Conversion price subject to anti-dilution full-ratchet on dilutive issuances; trigger events increase dividend to 18% and reduce price to 80% of lowest VWAP.
- Proceeds for general corporate purposes.