Summary by Moomoo AI
AgriFORCE Growing Systems has secured $800,000 in funding through the sale of 16 million common shares to two institutional investors at $0.05 per share on October 15, 2024. Each investor purchased 8 million shares for $400,000 under separate securities purchase agreements.The shares were registered via a prospectus supplement to the company's Registration No. 333-266722. As part of the agreement, the investors' Right of Participation has been extended to December 31, 2025. Additionally, the company must use 25% of net proceeds from any future at-the-market offerings or equity credit lines to repay outstanding debentures from the June 30, 2022 Securities Purchase Agreement.
