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8-K: Current report

SEC ·  Nov 6, 2024 08:02

Summary by Moomoo AI

On November 5, 2024, ZyVersa Therapeutics, Inc., a biopharmaceutical company, announced the entry into a warrant exercise inducement offer with certain holders of its existing warrants. The agreement involves holders of Series A, B, A-1, and B-1 Common Stock purchase warrants, which were previously issued in December 2023 and August 2024. Under the inducement offer, the holders agreed to exercise their existing warrants for cash at a reduced price of $2.06 per share. In return, ZyVersa will issue new warrants allowing holders to purchase double the number of shares at the same reduced price, with a five-year term from the initial exercise date. The transaction is expected to generate approximately $1.7 million in gross proceeds for ZyVersa, which will be used for working capital and...Show More
On November 5, 2024, ZyVersa Therapeutics, Inc., a biopharmaceutical company, announced the entry into a warrant exercise inducement offer with certain holders of its existing warrants. The agreement involves holders of Series A, B, A-1, and B-1 Common Stock purchase warrants, which were previously issued in December 2023 and August 2024. Under the inducement offer, the holders agreed to exercise their existing warrants for cash at a reduced price of $2.06 per share. In return, ZyVersa will issue new warrants allowing holders to purchase double the number of shares at the same reduced price, with a five-year term from the initial exercise date. The transaction is expected to generate approximately $1.7 million in gross proceeds for ZyVersa, which will be used for working capital and general corporate purposes. The issuance of shares upon exercise of the new warrants is contingent on stockholder approval, with a meeting to be convened within 120 days post-transaction completion. ZyVersa has also committed to filing a registration statement to facilitate the resale of the shares from the new warrants. Additionally, the company has entered into a financial advisory agreement with A.G.P./Alliance Global Partners, for which it will pay a $110,000 fee and up to $10,000 for non-accountable expenses.

This announcement is a separate document:

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