Gold prices steady with focus on Ukraine-Russia, Jackson Hole
Connexa Sports Technologies Inc. (NASDAQ:YYAI) disclosed Monday that it entered into a securities purchase agreement for a private placement of 20 million units, each consisting of one share of common stock and two warrants. The units were offered at $0.23 per unit, with total gross proceeds expected to be $4.6 million, according to a statement released in a Securities and Exchange Commission filing.
Each warrant included in the units will have a five-year exercise period and an exercise price of $0.89 per share. The exercise price of the warrants is subject to adjustment in the event of company actions such as reverse or forward stock splits, stock dividends, or reclassification of shares. If there is no effective registration statement for the warrants or the shares underlying the warrants at the time of exercise, holders may exercise the warrants on a cashless basis.
Completion of the private placement and issuance of the common stock and warrants is contingent on the satisfaction of all Nasdaq listing rules, including obtaining shareholder approval and the filing and effectiveness of a Schedule 14C information statement. Connexa Sports Technologies may terminate the agreement if the closing has not occurred by December 31, 2025.
The private placement was conducted under exemptions from registration provided by Section 4(a)(2) and/or Rule 506(b) of Regulation D and/or Regulation S under the Securities Act of 1933.
This information is based on a statement included in the company’s recent SEC filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.