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RiskOn International | S-1/A: General form for registration of securities under the Securities Act of 1933 (Amendment)

SEC announcement ·  Feb 7 16:47
Summary by Moomoo AI
RiskOn International, Inc. (RiskOn) has filed an amendment to its Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on February 7, 2024. The amendment pertains to the company's agreement with Arena Business Solutions Global SPC II, Ltd., on behalf of Segregated Portfolio #3 – SPC #3 (the Selling Stockholder), under which the Selling Stockholder has committed to purchase up to $100 million of RiskOn's common stock. The agreement, known as the Purchase Agreement, allows RiskOn to direct the Selling Stockholder to purchase shares at specified times, subject to certain conditions. As part of the agreement, RiskOn has also agreed to issue shares as a commitment fee to the Selling Stockholder, valued at $4 million. The shares offered by the Selling...Show More
RiskOn International, Inc. (RiskOn) has filed an amendment to its Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on February 7, 2024. The amendment pertains to the company's agreement with Arena Business Solutions Global SPC II, Ltd., on behalf of Segregated Portfolio #3 – SPC #3 (the Selling Stockholder), under which the Selling Stockholder has committed to purchase up to $100 million of RiskOn's common stock. The agreement, known as the Purchase Agreement, allows RiskOn to direct the Selling Stockholder to purchase shares at specified times, subject to certain conditions. As part of the agreement, RiskOn has also agreed to issue shares as a commitment fee to the Selling Stockholder, valued at $4 million. The shares offered by the Selling Stockholder under this prospectus may be sold in various ways, including ordinary brokerage transactions and block trades. The Selling Stockholder is considered an underwriter within the meaning of the Securities Act of 1933. RiskOn will not receive any proceeds from the resale of shares by the Selling Stockholder but may receive up to $100 million in aggregate gross proceeds from sales of its common stock to the Selling Stockholder. The funds received by RiskOn are expected to be used for general corporate purposes, including working capital and supporting growth initiatives.

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