tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Autonomix announces exercise of warrants for $2.5M gross proceeds

Autonomix (AMIX) Medical entered into agreements with certain holders of its existing warrants for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 1,477,596 shares of common stock of the Company originally issued in November 2024 at a reduced exercise price of $1.723 per share. The shares of common stock issuable upon exercise of the outstanding warrants are registered pursuant to an effective registration statement on Form S-1. The aggregate gross proceeds from the exercise of the existing warrants is expected to total approximately $2.5M, before deducting placement agent fees. Ladenburg Thalmann & Co. Inc. is acting as the Company’s placement agent for this transaction. In consideration for the immediate exercise of the warrants for cash, the Company will issue new unregistered warrants to purchase shares of common stock. The new warrants will be exercisable for an aggregate of up to 1,477,596 shares of common stock, at an exercise price of $1.723 per share and will be immediately exercisable upon issuance and for a term of five and one-half years from the issuance date. In lieu of a complete exercise of the warrants described above, certain warrant holders agreed to prepay $1.722 of the reduced exercise price and will receive an amended warrant for such prepaid portion of the warrant with an exercise price of $0.001 per share. The transaction is expected to close on or about July 23, 2025, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1