Summary by Moomoo AI
On January 26, 2024, Cardio Diagnostics Holdings, Inc. entered into a Sales Agreement with Craig-Hallum Capital Group LLC, allowing the company to sell up to $17 million in shares of its common stock at its discretion. The sales will be conducted as an 'at the market' offering under the company's effective Registration Statement, which was declared effective by the SEC on February 1, 2024. The company has the flexibility to determine the parameters of the share sales, including the number, timing, and minimum price of shares to be sold. Cardio Diagnostics Holdings will pay Craig-Hallum a 2.5% commission on the gross proceeds from the sales and will cover certain legal costs associated with the agreement. The offering will end when the total sales reach $17 million or upon termination of the Sales Agreement by either party. The net proceeds are intended for general corporate purposes. The company has made customary representations and warranties and has agreed to indemnify Craig-Hallum against certain liabilities.