IGC Pharma Announces $3 Million Unregistered Private Placement of its Common Stock
IGC Pharma, Inc. (IGC)
NASDAQ:AMEX Investor Relations:
igcinc.us/investor-center/overview
Company Research
Source: Business Wire
POTOMAC, Md.--(BUSINESS WIRE)--IGC Pharma, Inc. (NYSE American: IGC) (“IGC” or the “Company”) today announced a $3 million strategic investment from funds managed by Bradbury Asset Management (Hong Kong) Limited (“Bradbury”), a leading asset management firm.On March 22, 2024, the Company entered into a Share Purchase Agreement (the “SPA”) with Bradbury, subject to the terms and subject to the conditions set forth in the SPA. The investment is for approximately $3 million in gross proceeds at the March 21, 2024, closing price of $0.34. The funds will support general corporate purposes and the Company’s advancement of its investigational medicines including IGC-AD1.The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. Under the terms of the SPA, IGC will issue 8,823,529 shares of common stock. The shares are unregistered and are not immediately tradable.Please note that this press release does not constitute an offer to s
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IGC
Sec Filings
- 5/3/24 - Form EFFECT
- 4/18/24 - Form S-3
- 4/5/24 - Form 8-K
- IGC's page on the SEC website