IGC Pharma Enters Material Definitive Agreement

TL;DR

IGC Pharma just signed a big deal, details TBD.

AI Summary

On March 19, 2024, IGC Pharma, Inc. entered into a material definitive agreement. The company, formerly known as India Globalization Capital, Inc., filed a Form 8-K to report this event. The filing does not disclose specific details of the agreement or any associated dollar amounts.

Why It Matters

This filing indicates a significant new development for IGC Pharma, Inc., potentially impacting its business operations and future strategy. Investors should monitor for further details regarding the nature of this agreement.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could be significant, but lacks specific details, creating uncertainty.

Key Players & Entities

• IGC Pharma, Inc. (company) — Registrant
• India Globalization Capital, Inc. (company) — Former Company Name
• March 19, 2024 (date) — Date of earliest event reported
• March 21, 2024 (date) — Date as of change
• March 22, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $0.0001 — , shares of its common stock, par value $0.0001 per share (the "Common Stock"), having
• $0.35 — Stock Exchange American ("NYSE") on of $0.35 per share and such additional shares of
• $60 million — the issuance of an aggregate amount of $60 million in Shares in the Offering. Sales of th
• $10,000 — eed to pay an annual maintenance fee of $10,000 to the Sales Agent in connection with t

Filing Documents

• igcpharma20240320c_8k.htm (8-K) — 34KB
• ex_642740.htm (EX-5.1) — 6KB
• ex_642739.htm (EX-10.1) — 211KB
• footer1.jpg (GRAPHIC) — 5KB
• header1.jpg (GRAPHIC) — 6KB
• igc_logo1.jpg (GRAPHIC) — 3KB
• 0001185185-24-000301.txt ( ) — 462KB
• igc-20240319.xsd (EX-101.SCH) — 3KB
• igc-20240319_def.xml (EX-101.DEF) — 10KB
• igc-20240319_lab.xml (EX-101.LAB) — 19KB
• igc-20240319_pre.xml (EX-101.PRE) — 11KB
• igcpharma20240320c_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement ATM Sales Agreement On March 19, 2024, IGC Pharma, Inc. (the "Company") entered into a new Sales Agreement (the "Agreement") with A.G.P./Alliance Global Partners (the "Agent") pursuant to which the Company may offer and sell, from time to time, through the Agent, as sales agent and/or principal, shares of its common stock, par value $0.0001 per share (the "Common Stock"), having an aggregate offering price subject to certain limitations on the amount of Common Stock that may be offered and sold by the Company set forth in the Sales Agreement (the "Offering"). Offers and sales of Shares by the Company, if any, under the Sales Agreement, will be made through an accompanying base prospectus contained therein (the "ATM Prospectus Supplement"), to the prospectus forming a part of the Company's shelf registration statement on Form S-3 (File No. 333-276330), filed by the Company with the SEC on December 29, 2023 (the "Registration Statement") and declared effective by the SEC on January 8, 2024. The aggregate market value of Shares eligible for sale under the Sales Agreement will be subject to the limitations of General Instruction I.B.6 of Form S-3, to the extent required under such instruction. The Company's board of directors has initially reserved 171,428,571 shares of Common Stock for issuance as Shares in the Offering in connection with the Sales Agreement based on the last reported share price of the Common Stock on the New York Stock Exchange American ("NYSE") on of $0.35 per share and such additional shares of Common Stock as are necessary for the issuance of an aggregate amount of $60 million in Shares in the Offering. Sales of the Shares, if any, made under the ATM Prospectus Supplement may be made in negotiated transactions, or by any method permitted by law that is deemed to be an "at the market offering" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"), incl

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits The following exhibits are being filed herewith: 5.1 Opinion of Olshan Frome Wolosky LLP 10.1 Sales Agreement dated March 19, 2024, by and between IGC Pharma, Inc. and A.G.P./Alliance Global Partners 23.1 Consent of Olshan Frome Wolosky LLP (contained in Exhibit 5.1) 104 Cover Page Interactive Data File * Certain schedules or similar attachments to this exhibit have been omitted in accordance with Item 601(a)(5) of Regulation S-K. The registrant hereby agrees to furnish supplementally to the Securities and Exchange Commission upon request a copy of any omitted schedule or attachment to this exhibit.

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 hereunto duly authorized. IGC Pharma, Inc. Dated: March 21, 2024 By: /s/ Ram Mukunda Name: Ram Mukunda Title: CEO

View Full Filing

View this 8-K filing on SEC EDGAR