secwatch.observer — SEC 8-K summary
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Issuer:     LIPELLA PHARMACEUTICALS INC. (LIPO)
CIK:        0001347242
Form:       8-K
Filed at:   2024-12-30T23:59:59+00:00
Accession:  0001753926-24-002189
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lipella Pharmaceuticals closes $2.23M initial tranche of Series B preferred offering
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- Initial closing of $2.23M on Dec 23, 2024: 22,295 Series B shares sold at $100 each.
- Net proceeds ~$1.8M; intended for working capital and general corporate purposes.
- Series B convertible into 854,214 common shares at $2.61/share; 4.99% ownership cap.
- Spartan Capital received ~$334K fees, 260,108 Series C conversion shares, and 85,421 warrants at $1.00.
- Maximum offering size $6.0M (up to $7.2M with over-allotment); offering open until June 30, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347242/000175392624002189/0001753926-24-002189-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347242/000175392624002189/g084615_8k.htm
  HTML page:      https://secwatch.observer/filing/0001753926-24-002189

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer