ProMIS Neurosciences Enters Material Definitive Agreement

Ticker: PMN · Form: 8-K · Filed: 2024-01-05T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement, corporate-action

TL;DR

**ProMIS Neurosciences just signed a big deal, details pending, could move the stock.**

AI Summary

ProMIS Neurosciences Inc. filed an 8-K on January 5, 2024, to report an "Entry into a Material Definitive Agreement." This filing indicates a significant new contract or partnership that could impact the company's future operations and financial performance. For investors, this matters because such agreements often signal new revenue streams, strategic collaborations, or changes in business direction, which could influence the stock's valuation depending on the specifics of the agreement, which are not detailed in this summary filing.

Why It Matters

This filing signals a potentially significant business development for ProMIS Neurosciences, which could lead to new opportunities or obligations that impact its financial outlook and stock price.

Risk Assessment

Risk Level: medium — The risk is medium because while a material agreement is reported, its specific terms, financial impact, and implications for the company's future are not disclosed in this summary filing.

Analyst Insight

A smart investor would await further details on the 'Material Definitive Agreement' before making any investment decisions, as the impact on ProMIS Neurosciences Inc. (PMN) stock is entirely dependent on the specifics of the deal.

Key Players & Entities

FAQ

What is the primary purpose of ProMIS Neurosciences Inc.'s 8-K filing on January 5, 2024?

The primary purpose of ProMIS Neurosciences Inc.'s 8-K filing on January 5, 2024, is to report an "Entry into a Material Definitive Agreement" and to include "Financial Statements and Exhibits" related to this event, as stated under ITEM INFORMATION.

What is the trading symbol and exchange for ProMIS Neurosciences Inc.'s common shares?

ProMIS Neurosciences Inc.'s common shares trade under the symbol PMN on The Nasdaq Capital Market, as indicated in the 'Securities registered pursuant to Section 12(b) of the Act' section.

What is the business address and phone number of ProMIS Neurosciences Inc.?

The business address for ProMIS Neurosciences Inc. is Suite 200, 1920 Yonge Street, Toronto, Ontario M4S 3E2, and their telephone number is (416) 847-6898, as listed in the BUSINESS ADDRESS section.

What is the Central Index Key (CIK) for ProMIS Neurosciences Inc.?

The Central Index Key (CIK) for ProMIS Neurosciences Inc. is 0001374339, as found in the COMPANY DATA section of the filing.

Does this 8-K filing provide specific details about the 'Material Definitive Agreement'?

No, this 8-K filing, as presented, only states that there has been an "Entry into a Material Definitive Agreement" under ITEM INFORMATION but does not provide specific details regarding the nature, parties, or terms of the agreement.

Filing Stats: 926 words · 4 min read · ~3 pages · Grade level 12.9 · Accepted 2024-01-05 17:26:01

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 5, 2024, Promis Neurosciences, Inc. (the "Company") entered into an At The Market Offering Agreement (the "Agreement") with BTIG, LLC, serving as agent (the "Agent") with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, its common shares, no par value (the "Common Stock"), having an aggregate offering price of up to $25.0 million (the "Shares") through the Agent (the "Offering"). Any Shares offered and sold in the Offering will be issued pursuant to the Company's shelf Registration Statement on Form S-3 (File No. 333-274658) filed with the Securities and Exchange Commission (the "SEC") on September 22, 2023, in the form in which it became effective on September 29, 2023, the related prospectus contained therein, and the prospectus supplement relating to the Offering filed with the SEC on January 5, 2024 and any applicable additional prospectus supplements related to the Offering that form a part of the Registration Statement. The Agent may sell the Shares by any method permitted by law deemed to be an "at the market offering" as defined in Rule 415 of the Securities Act of 1933, as amended, including, without limitation, sales made through The Nasdaq Capital Market ("Nasdaq") or on any other existing trading market for the Common Stock. The Agent will use commercially reasonable efforts to sell the Shares from time to time consistent with its normal sales practices and applicable federal rules, regulations and Nasdaq rules, based upon instructions from the Company (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company will pay the Agent a commission equal to up to three percent (3%) of the gross sales proceeds of any Shares sold through the Agent under the Agreement, and also has provided the Agent with customary indemnification and contribution rights.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 1.1 At The Market Offering Agreement, January 5, 2024, by and between ProMIS Neurosciences, Inc. and BTIG, LLC. 5.1 Opinion of McMillan LLP. 23.1 Consent of McMillan LLP (contained in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within Inline XBRL document).

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. PROMIS NEUROSCIENCES INC. Date: January 5, 2024 By: /s/ Neil Warma Name: Neil Warma Title: Chief Executive Officer

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