NanoViricides Files 8-K for Material Agreement

TL;DR

NVIR filed an 8-K for a material agreement, more details to come.

AI Summary

On April 5, 2024, NanoViricides, Inc. filed an 8-K report detailing a material definitive agreement. The filing also includes financial statements and exhibits, but specific details of the agreement and financial figures were not provided in the excerpt.

Why It Matters

This filing indicates a significant business development for NanoViricides, Inc., potentially impacting its operations and future prospects.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the lack of specific details in the excerpt necessitates a medium risk assessment.

Key Players & Entities

• NanoViricides, Inc. (company) — Registrant
• April 5, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $50 million — ng an aggregate offering price of up to $50 million (the "ATM Offering"). On April 5, 2024,
• $50,000 — egal counsel in an amount not to exceed $50,000 in connection with the filing of the Sa
• $2,500 — s Agreement and an amount not to exceed $2,500 per quarter during the term of the Sale

Filing Documents

• tm2411224d1_8k.htm (8-K) — 29KB
• tm2411224d1_ex1-1.htm (EX-1.1) — 226KB
• tm2411224d1_ex5-1.htm (EX-5.1) — 14KB
• tm2411224d1_ex5-1img001.jpg (GRAPHIC) — 3KB
• 0001104659-24-044367.txt ( ) — 503KB
• nnvc-20240405.xsd (EX-101.SCH) — 3KB
• nnvc-20240405_lab.xml (EX-101.LAB) — 33KB
• nnvc-20240405_pre.xml (EX-101.PRE) — 22KB
• tm2411224d1_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive

Item 1.01 Entry into a Material Definitive Agreement. As previously reported, on July 31, 2020, the Company entered into an At Market Issuance Sales Agreement with B. Riley Securities, Inc. and Kingswood Capital Markets, a division of Benchmark Investments, Inc. (now EF Hutton LLC) (each a "Sales Agent" and collectively, the "Sales Agents"), pursuant to which we may offer and sell, from time to time, through or to the Sales Agents, shares of common stock (the "Placement Shares"), having an aggregate offering price of up to $50 million (the "ATM Offering"). On April 5, 2024, a new Sales Agreement (the "Sales Agreement") was executed to name EF Hutton LLC as the sole sales agent (the "Agent") and to remove B. Riley Securities, Inc. as a Sales Agent. Sales pursuant to the Sales Agreement will be made only upon instructions by the Company to the Agent, and the Company cannot provide any assurances that it will issue any Placement Shares pursuant to the Sales Agreement. The issuance and sale, if any, of the Placement Shares by the Company under the Sales Agreement will be made pursuant to the Company's effective "shelf" registration statement on Form S-3 (No. 333-271706) (the "Registration Statement"), the base prospectus contained therein, and the prospectus supplements relating to the ATM offering, dated August 7, 2023 and April 5, 2024 (the "Prospectus Supplement"). Under the terms of the Sales Agreement, the Company may sell the Placement Shares by any method permitted that is deemed an "at the market offering" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"). The Agent will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations to sell the Placement Shares from time to time, based upon the Company's instructions (including any price, time or size limits or other customary parameters or conditions the Company may impose).

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. NANOVIRICIDES, INC. Date: April 5, 2024 By: /s/ Anil Diwan Name: Anil Diwan Title: Chairman, President

View Full Filing

View this 8-K filing on SEC EDGAR