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RiskOn International | S-1: General form for registration of securities under the Securities Act of 1933

SEC announcement ·  Jan 23 00:00
Summary by Moomoo AI
RiskOn International, Inc., a Nevada-based company, filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on January 23, 2024, for the sale of up to 40,000,000 shares of common stock. The shares are to be sold by Arena Business Solutions Global SPC II, Ltd., on behalf of Segregated Portfolio #3 – SPC #3 (the Selling Stockholder), pursuant to a Purchase Agreement dated August 24, 2023. The agreement allows RiskOn International to direct the Selling Stockholder to purchase shares at the company's discretion, subject to certain conditions, over a 36-month period. The purchase price for the shares will be 95% of the lower of the lowest sale price during the Pricing Period or the average of the three lowest closing prices in the ten...Show More
RiskOn International, Inc., a Nevada-based company, filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on January 23, 2024, for the sale of up to 40,000,000 shares of common stock. The shares are to be sold by Arena Business Solutions Global SPC II, Ltd., on behalf of Segregated Portfolio #3 – SPC #3 (the Selling Stockholder), pursuant to a Purchase Agreement dated August 24, 2023. The agreement allows RiskOn International to direct the Selling Stockholder to purchase shares at the company's discretion, subject to certain conditions, over a 36-month period. The purchase price for the shares will be 95% of the lower of the lowest sale price during the Pricing Period or the average of the three lowest closing prices in the ten days preceding the notice of sale. As of January 19, 2024, RiskOn International had already sold 20,538,845 shares to the Selling Stockholder for total gross proceeds of $3,006,996, with $96,993,004 worth of shares remaining available for future sales under the agreement. The Selling Stockholder is prohibited from engaging in short sales or hedging transactions with RiskOn International's stock during the term of the agreement. The proceeds from the sale of shares to the Selling Stockholder are intended for general corporate purposes, including working capital and growth initiatives.

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