RenovoRx Sells $1M in Stock
Ticker: RNXT · Form: 8-K · Filed: Apr 15, 2024 · CIK: 1574094
| Field | Detail |
|---|---|
| Company | Renovorx, INC. (RNXT) |
| Form Type | 8-K |
| Filed Date | Apr 15, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $1.22, $1.69, $11.1 million, $9.6 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-sale, equity-offering, capital-raise
TL;DR
RenovoRx just sold $1M in stock at $1/share, raising cash but diluting existing holders.
AI Summary
On April 15, 2024, RenovoRx, Inc. filed an 8-K detailing an unregistered sale of equity securities. The company entered into a Securities Purchase Agreement on April 11, 2024, for the sale of 1,000,000 shares of its common stock at a purchase price of $1.00 per share, resulting in gross proceeds of $1,000,000.
Why It Matters
This filing indicates RenovoRx has raised capital through a private placement, which could fund operations or development, but also dilutes existing shareholders.
Risk Assessment
Risk Level: medium — The sale of unregistered equity securities at a discount can signal financial pressure or a need for immediate capital, potentially impacting future stock performance.
Key Numbers
- $1,000,000 — Gross Proceeds (Raised from the sale of equity securities.)
- 1,000,000 — Shares Sold (Number of common stock shares sold in the unregistered offering.)
- $1.00 — Price Per Share (The price at which the shares were sold.)
Key Players & Entities
- RenovoRx, Inc. (company) — Registrant
- April 15, 2024 (date) — Filing Date
- April 11, 2024 (date) — Securities Purchase Agreement Date
- $1.00 (dollar_amount) — Price per share
- 1,000,000 (dollar_amount) — Number of shares sold
- $1,000,000 (dollar_amount) — Gross proceeds
FAQ
What was the specific reason for the unregistered sale of equity securities?
The filing does not explicitly state the specific reason for the unregistered sale, but it was conducted under a Securities Purchase Agreement dated April 11, 2024.
Who was the buyer in this Securities Purchase Agreement?
The filing does not disclose the identity of the purchaser(s) in the Securities Purchase Agreement.
Were these shares registered with the SEC?
No, the filing explicitly states this was an 'Unregistered Sales of Equity Securities'.
What is the total amount of capital raised in this transaction?
RenovoRx, Inc. raised gross proceeds of $1,000,000 from the sale of 1,000,000 shares at $1.00 per share.
What is the company's principal executive office address?
The company's principal executive offices are located at 4546 El Camino Real, Suite B1, Los Altos, CA 94022.
Filing Stats: 1,298 words · 5 min read · ~4 pages · Grade level 11 · Accepted 2024-04-15 09:00:13
Key Financial Figures
- $0.0001 — he "Shares") of common stock, par value $0.0001 per share, of the Company (the "Common
- $1.22 — rant Shares") with an exercise price of $1.22 per share, subject to customary adjustm
- $1.69 — rant Shares") with an exercise price of $1.69 per share and may also be exercised on
- $11.1 million — raised gross proceeds of approximately $11.1 million in the Offering, before deducting place
- $9.6 million — from the Offering will be appropriately $9.6 million. As previously disclosed in the Compa
- $1,280,937.39 — ent Agent a selling commission equal to $1,280,937.39 and certain expenses in an aggregate am
- $50,000 — tain expenses in an aggregate amount of $50,000. At closing, the Company also issued th
Filing Documents
- form8-k.htm (8-K) — 49KB
- ex10-1.htm (EX-10.1) — 138KB
- ex10-2.htm (EX-10.2) — 95KB
- ex10-3.htm (EX-10.3) — 96KB
- ex10-4.htm (EX-10.4) — 86KB
- ex10-5.htm (EX-10.5) — 109KB
- ex99-1.htm (EX-99.1) — 18KB
- 0001493152-24-014559.txt ( ) — 873KB
- rnxt-20240415.xsd (EX-101.SCH) — 3KB
- rnxt-20240415_lab.xml (EX-101.LAB) — 33KB
- rnxt-20240415_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
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. RenovoRx, Inc. Date: April 15, 2024 By: /s/ Shaun Bagai Name: Shaun R. Bagai Title: Chief Executive Officer 4