other material
confidence high
sentiment neutral
materiality 0.75
Avant Technologies enters $20M equity financing agreement with GHS Investments at 80% discount
AVAI BIO, INC.
- Up to $20M of common stock over 24 months; purchase price is 80% of lowest traded price in prior 10 trading days.
- After NASDAQ uplist, price becomes 90% of lowest VWAP with $0.50 floor; puts capped at $500K each.
- Company can initiate puts only when registration effective; GHS ownership limited to 4.99% of outstanding shares.
- First closing requires $8,000 deposit to investor's legal counsel for transaction costs.