Aeries Technology raises $5M via PIPE at $2.21/share with institutional investor

Aeries Technology, Inc.

Issued 2,261,778 new Class A ordinary shares at $2.21 per share to Oyster Bay Fund Limited.
Gross proceeds $5M; net proceeds ~$4.75M after 5% placement agent commission.
Beneficial ownership limitation set at 4.99% (or 9.99% at investor election).
Proceeds to be used for general corporate and working capital purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Aeries Technology, Inc. entered into Share Subscription Agreement with institutional accredited investor valued at 2,261,778 newly issued Class A ordinary shares at $2.21 per share; net proceeds approx. $4.75 millio (effective 2024-04-08).

Action: entry
Agreement: equity purchase
Counterparty: institutional accredited investor
Value: 2,261,778 newly issued Class A ordinary shares at $2.21 per share; net proceeds approx. $4.75 millio
Effective: 2024-04-08

Exact text from the filing

On April 8, 2024, Aeries Technology, Inc. (the “Company”) entered into a Share Subscription Agreement (the “Agreement”) with an institutional accredited investor named in the Agreement (the “Investor”).

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284 material agreements filed in the last 30 days. Browse all material agreements →

Aeries Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-24-002425

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