Summary by Moomoo AI
On May 9, 2024, eFFECTOR Therapeutics, Inc. announced the entry into an At the Market Offering Agreement with H.C. Wainwright & Co., LLC, allowing the company to sell up to $50.0 million of its common stock. The sales will be made on the Nasdaq Capital Market and the company will pay a 3.0% commission to the Agent on the gross proceeds. There is no obligation for either party to proceed with the sale of any stock, and the number of shares sold, if any, as well as the prices and dates of sale, are not guaranteed. The agreement also includes indemnification provisions for the Agent. Concurrently, eFFECTOR Therapeutics terminated its previous agreement with Cantor Fitzgerald & Co., under which it had sold 1,075,405 shares for an aggregate offering price of $9.8 million. The termination was effective immediately, and no further sales will be made under the prior agreement. The new sales agreement and the termination of the old one were made pursuant to the company's effective registration statement and prospectus supplement filed with the SEC.