A2Z Smart Technologies Raises $3.32M in Direct Offering
Ticker: AZ · Form: 6-K · Filed: Apr 2, 2024 · CIK: 1866030
| Field | Detail |
|---|---|
| Company | A2z Smart Technologies Corp (AZ) |
| Form Type | 6-K |
| Filed Date | Apr 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.35, $3,318,175 b, $2,395,000 b |
| Sentiment | neutral |
Sentiment: neutral
Topics: offering, capital-raise, common-stock
Related Tickers: AZ
TL;DR
AZ just sold 9.48M shares at $0.35 for $3.32M cash. Direct offering to accredited investors.
AI Summary
On April 2, 2024, A2Z Smart Technologies Corp. (Nasdaq: AZ) entered into a securities purchase agreement with accredited investors to issue and sell 9,480,500 common shares at $0.35 per share, raising approximately $3.32 million in a registered direct offering.
Why It Matters
This capital raise provides A2Z Smart Technologies with funds that can be used for general corporate purposes, potentially supporting growth initiatives or operational needs.
Risk Assessment
Risk Level: medium — Registered direct offerings can dilute existing shareholders and may indicate a need for immediate capital, which can be a concern for investors.
Key Numbers
- 9,480,500 — Shares Sold (Number of common shares issued in the registered direct offering.)
- $0.35 — Price Per Share (The price at which each common share was sold.)
- $3.32M — Gross Proceeds (Total amount raised before expenses from the offering.)
Key Players & Entities
- A2Z Smart Technologies Corp. (company) — Registrant
- Nasdaq: AZ (company) — Stock ticker
- April 2, 2024 (date) — Date of agreement
- 9,480,500 (dollar_amount) — Number of common shares
- $0.35 (dollar_amount) — Price per share
- $3.32 million (dollar_amount) — Total gross proceeds
FAQ
What is the total amount raised in the registered direct offering?
The company agreed to issue and sell 9,480,500 common shares at $0.35 per share, resulting in gross proceeds of approximately $3.32 million.
When did A2Z Smart Technologies enter into the securities purchase agreement?
The agreement was entered into on April 2, 2024.
Who are the purchasers in this offering?
The purchasers are described as certain accredited investors.
What is the purpose of the funds raised?
The filing states the proceeds are for general corporate purposes.
What is the stock ticker for A2Z Smart Technologies Corp.?
The stock ticker is Nasdaq: AZ.
Filing Stats: 749 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2024-04-02 16:24:49
Key Financial Figures
- $0.35 — er share, at a public offering price of $0.35 per share (the “Offering”).
- $3,318,175 b — ds from the Offering were approximately $3,318,175 before deducting the offering expenses pa
- $2,395,000 b — private placement will be approximately $2,395,000 before deducting the offering expenses pa
Filing Documents
- form6-k.htm (6-K) — 25KB
- ex99-1.htm (EX-99.1) — 118KB
- ex99-2.htm (EX-99.2) — 117KB
- ex99-3.htm (EX-99.3) — 14KB
- ex99-4.htm (EX-99.4) — 14KB
- ex99-3_001.jpg (GRAPHIC) — 4KB
- ex99-3_002.jpg (GRAPHIC) — 1KB
- 0001493152-24-012808.txt ( ) — 297KB
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. A2Z SMART TECHNOLOGIES CORP. (Registrant) Date: April 2, 2024 By /s/ Gadi Levin Gadi Levin Chief Financial Officer EXHIBIT INDEX Exhibit Description of Exhibit 99.1 Form of the Securities Purchase Agreement. 99.2 Form of Private Placement Common Share Purchase Agreement. 99.3 Opinion of Bloch Legal. 99.4 Press Release dated April 2, 2024.