- Sonendo ( NYSE: SONX ) announced a $63M private placement of common stock and pre-funded warrants.
- New and existing investors, including Pura Vida Investments, First Light Asset Management, Blue Water Life Science Advisors, ArrowMark Partners, Driehaus Capital Management, and JMR Capital participated in the financing.
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The securities purchase agreements entered into with the investors provide for the purchase of an aggregate of 23,045,536 shares of its common stock at a purchase price/share of $0.95, and pre-funded warrants to purchase an aggregate of 43,315,846 shares of common stock at a purchase price of $0.949/pre-funded warrant, through a private investment in public equity financing.
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The pre-funded warrants will have an exercise price of $0.001/share of common stock, be immediately exercisable and remain exercisable until exercised in full.
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The private placement is expected to close on or about September 27, 2022.
- The company intends to use the net proceeds from the financing to accelerate ongoing commercialization efforts and further expand its current product portfolio and for working capital as well as other general corporate purposes.
For further details see:
Sonendo announces $63 million private placement