Advent Technologies raises $2M in registered direct offering of 10M shares at $0.20 each

ADVENT TECHNOLOGIES HOLDINGS, INC.

Gross proceeds of $2M; net proceeds ~$1.78M after estimated expenses.
Joseph Gunnar & Co. acted as placement agent; receives 9% cash fee plus up to $25K reimbursement.
Proceeds to fund development of fuel cell systems, MEA, stack design, and for working capital.
Offering expected to close December 27, 2023, subject to customary closing conditions.
Securities offered under effective shelf registration statement (Form S-3, No. 333-271389).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ADVENT TECHNOLOGIES HOLDINGS, INC. entered into Purchase Agreement with those certain purchasers named therein valued at $2,000,000 (effective 2023-12-22).

Action: entry
Agreement: equity purchase
Counterparty: those certain purchasers named therein
Value: $2,000,000
Effective: 2023-12-22

Exact text from the filing

On December 22, 2023, Advent Technologies Holdings, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with those certain purchasers named therein (the “Purchasers”) pursuant to which the Company agreed to issue and sell, in a public offering, directly to the Purchasers (the “Registered Direct Offering”), 10,000,000 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”).

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ADVENT TECHNOLOGIES HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001829126-23-008234

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