other material
confidence high
sentiment neutral
materiality 0.65
Aethlon Medical raises ~$2.3M via warrant exercise inducement, issues new warrants
AETHLON MEDICAL INC
- Gross proceeds of approximately $2,316,320 from exercise of 6,200,000 Existing Warrants at reduced price of $0.3736/share.
- Holder received new unregistered warrants to purchase 200% of the exercised shares at $0.3736, exercisable after 6 months for 5.5 years.
- Company issued 6,200,000 shares of common stock; net proceeds for working capital and general corporate purposes.
- Stockholder approval required to retroactively approve the reset exercise price provision in the new warrants.
- Placement agent Maxim Group LLC received 6.0% cash fee ($138,979) plus $15,000 expenses.