AgriForce Growing Systems Closes $1.5M Private Placement
Ticker: AVX · Form: 8-K · Filed: Apr 12, 2024 · CIK: 1826397
| Field | Detail |
|---|---|
| Company | Agriforce Growing Systems Ltd. (AVX) |
| Form Type | 8-K |
| Filed Date | Apr 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.0 million, $0.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, private-placement, capital-raise
Related Tickers: AGRI
TL;DR
AGRI closed a $1.5M private placement, bringing in new cash.
AI Summary
On April 11, 2024, AgriForce Growing Systems Ltd. announced the closing of its previously disclosed private placement of common shares and warrants. The company raised approximately $1.5 million in gross proceeds from this offering, which was led by certain institutional investors.
Why It Matters
This capital infusion provides AgriForce with additional funds to advance its business objectives, potentially impacting its operational capacity and future growth strategies.
Risk Assessment
Risk Level: medium — The company is raising capital through a private placement, which can sometimes indicate a need for funds or a dilutive event for existing shareholders.
Key Numbers
- $1.5M — Gross Proceeds (Raised from private placement of common shares and warrants)
Key Players & Entities
- AgriForce Growing Systems Ltd. (company) — Registrant
- April 11, 2024 (date) — Date of earliest event reported
- $1.5 million (dollar_amount) — Gross proceeds from private placement
FAQ
What was the total amount of gross proceeds raised in the private placement?
The company raised approximately $1.5 million in gross proceeds.
What securities were offered in the private placement?
The private placement consisted of common shares and warrants.
When did the event reported in this 8-K occur?
The earliest event reported occurred on April 11, 2024.
Who were the primary investors in this private placement?
The private placement was led by certain institutional investors.
What is the principal executive office address of AgriForce Growing Systems Ltd.?
The principal executive office is located at 800-525 West 8th Avenue, Vancouver, BC, Canada, V5Z 1C6.
Filing Stats: 664 words · 3 min read · ~2 pages · Grade level 14.9 · Accepted 2024-04-12 09:26:18
Key Financial Figures
- $1.0 million — gs under Section 2.4(a) of the SPA from $1.0 million to $0.5 million. Such Additional Closin
- $0.5 million — 2.4(a) of the SPA from $1.0 million to $0.5 million. Such Additional Closings may occur unt
Filing Documents
- form8-k.htm (8-K) — 42KB
- 0001493152-24-014396.txt ( ) — 253KB
- agri-20240411.xsd (EX-101.SCH) — 4KB
- agri-20240411_def.xml (EX-101.DEF) — 26KB
- agri-20240411_lab.xml (EX-101.LAB) — 36KB
- agri-20240411_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 5KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: April 12, 2024 AGRIFORCE GROWING SYSTEMS, LTD. By: /s/ Jolie Kahn Executive Consultant