secwatch.observer — SEC 8-K summary
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Issuer:     LIPELLA PHARMACEUTICALS INC. (LIPO)
CIK:        0001347242
Form:       8-K
Filed at:   2025-03-03T23:59:59+00:00
Accession:  0001753926-25-000381
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lipella raises $3.79M in third closing of Series B convertible preferred offering
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- Sold 37,880 Series B convertible preferred shares at $100 each; gross proceeds $3.788M, net $3.124M after fees.
- Over-allotment partially exercised; $385,500 from over-allotment included in gross proceeds.
- Conversion price set at $3.00 or $3.13 per common share, subject to adjustment.
- Spartan Capital earned $663,960 in fees, received 441,933 Series C shares and warrants for 125,833 common shares.
- Second amendment makes Spartan's cash and stock compensation pro rata on total $7.2M across both offerings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347242/000175392625000381/0001753926-25-000381-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347242/000175392625000381/g084716_8k.htm
  HTML page:      https://secwatch.observer/filing/0001753926-25-000381

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