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Safety Shot, Inc. (NASDAQ:SHOT) announced Wednesday it has entered into a Securities Purchase Agreement with a single accredited investor for a private placement of common stock. According to a statement in the company’s recent SEC filing, the agreement was executed on July 3.
Under the terms of the agreement, Safety Shot will issue 844,594 shares of its common stock at a price of $0.296 per share. The negotiated price represents a 20% discount to the closing price of the company’s shares on July 3. The transaction is expected to generate gross proceeds of $250,000 for the company.
The filing states that the agreement was included as an exhibit to the Form 8-K and that the description of its terms is qualified in its entirety by reference to the full agreement.
Safety Shot’s common stock and warrants, each exercisable for one share of common stock at $8.50 per share, are listed on The Nasdaq Stock Market LLC under the symbols SHOT and SHOTW, respectively.
This information is based on a press release statement included in the company’s filing with the Securities and Exchange Commission.
In other recent news, Safety Shot, Inc. reported a significant increase in equity after the appreciation of its holdings in SRM Entertainment, Inc. The company’s shares in SRM Entertainment rose in value, resulting in an increase of approximately $17 million in equity. Additionally, Safety Shot completed its acquisition of Yerbae Brands Corp., issuing about 19.9 million shares to former Yerbae shareholders as part of the arrangement. This acquisition means Safety Shot shareholders now own approximately 81.64% of the combined company. Furthermore, Safety Shot entered into a $250,000 private placement agreement, selling shares at a 20% discount. The company also canceled 6.6 million common shares in exchange for preferred stock. In another development, shareholders approved an amendment to the company’s 2024 Equity Incentive Plan, increasing the reserved shares by 22 million to incentivize employees. These recent developments highlight Safety Shot’s strategic moves to strengthen its financial position and market presence.
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