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Clearmind Medicine | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Jan 16 00:00
Summary by Moomoo AI
Clearmind Medicine Inc. has announced the pricing of a registered direct offering and concurrent private placement on January 11, 2024. The company entered into a securities purchase agreement with investors for the sale of 1,468,000 common shares and pre-funded warrants to purchase up to 32,000 common shares. Additionally, in a private placement, Clearmind Medicine agreed to issue 1,500,000 common warrants, exercisable at $1.60 per share with a 5-year term. The offerings are priced at $1.60 per ordinary share and associated PIPE Warrant, and $1.5999 for each Pre-Funded Warrant and associated PIPE Warrant. The transactions are expected to close on January 16, 2024, with anticipated gross proceeds of approximately $2.4 million. The company also entered into a registration rights agreement, committing to file a resale registration statement for the common...Show More
Clearmind Medicine Inc. has announced the pricing of a registered direct offering and concurrent private placement on January 11, 2024. The company entered into a securities purchase agreement with investors for the sale of 1,468,000 common shares and pre-funded warrants to purchase up to 32,000 common shares. Additionally, in a private placement, Clearmind Medicine agreed to issue 1,500,000 common warrants, exercisable at $1.60 per share with a 5-year term. The offerings are priced at $1.60 per ordinary share and associated PIPE Warrant, and $1.5999 for each Pre-Funded Warrant and associated PIPE Warrant. The transactions are expected to close on January 16, 2024, with anticipated gross proceeds of approximately $2.4 million. The company also entered into a registration rights agreement, committing to file a resale registration statement for the common shares issuable upon exercise of the PIPE Warrants. Clearmind Medicine will pay liquidated damages if it fails to meet the filing and effectiveness deadlines for the registration statement. The company has agreed to customary standstill restrictions and will not engage in any 'variable rate transactions' for one year following the effective date of the registration statement. Aegis Capital Corp. has been appointed as the sole placement agent for the offerings, with Clearmind Medicine agreeing to pay an 8% cash placement fee on the gross proceeds of the registered direct offering and additional legal fees. The common shares and pre-funded warrants will be issued pursuant to a prospectus supplement filed with the SEC.
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