other material
confidence high
sentiment neutral
materiality 0.70
Actuate Therapeutics enters $50M equity line with B. Riley, can sell shares at 3% VWAP discount
ACTUATE THERAPEUTICS, INC.
- Company may sell up to $50M of common stock to B. Riley Principal Capital II over 36 months at a 3% discount to VWAP.
- Sales are at Actuate's sole discretion; no obligation to sell any shares under the agreement.
- Beneficial ownership by B. Riley capped at 4.99%; exchange cap of 19.99% of shares outstanding unless higher threshold price met.
- Actuate paid a cash commitment fee of up to $500,000 (1% of facility) and will reimburse legal fees.
- Proceeds intended for working capital and general corporate purposes; company retains right to terminate at any time with 10 trading days' notice.