Evogene Ltd. Raises Capital Through Share Offering
Ticker: EVGN · Form: 6-K · Filed: Aug 23, 2024 · CIK: 1574565
Sentiment: neutral
Topics: capital-raise, share-offering, registered-direct-offering
TL;DR
Evogene selling 265K shares + warrants to investor, closes Aug 27.
AI Summary
On August 23, 2024, Evogene Ltd. entered into a securities purchase agreement to issue and sell 265,000 ordinary shares to an institutional investor in a registered direct offering. The company also agreed to issue warrants to purchase an additional 265,000 ordinary shares. The offering is expected to close on August 27, 2024.
Why It Matters
This registered direct offering provides Evogene with additional capital, which can be used for operational expenses, research and development, or strategic initiatives, potentially strengthening its financial position.
Risk Assessment
Risk Level: medium — The company is issuing new shares, which can dilute existing shareholders' ownership and potentially impact the stock price.
Key Numbers
- 265,000 — Ordinary Shares (Number of shares to be issued in the registered direct offering.)
- 265,000 — Warrants (Number of warrants to be issued, exercisable for ordinary shares.)
Key Players & Entities
- Evogene Ltd. (company) — Registrant
- August 23, 2024 (date) — Date of securities purchase agreement
- 265,000 ordinary shares (dollar_amount) — Number of shares to be issued
- August 27, 2024 (date) — Expected closing date of the offering
FAQ
What is the total number of ordinary shares Evogene Ltd. has agreed to issue in this offering, including shares and warrants?
Evogene Ltd. has agreed to issue 265,000 ordinary shares and warrants to purchase an additional 265,000 ordinary shares, totaling 530,000 potential shares.
When is the registered direct offering expected to close?
The offering is expected to close on August 27, 2024.
Who is the counterparty in the securities purchase agreement?
Evogene Ltd. entered into the agreement with an institutional investor.
What type of securities is Evogene Ltd. issuing in this offering?
Evogene Ltd. is issuing ordinary shares and warrants to purchase ordinary shares.
What is the filing date of this Form 6-K report?
This Form 6-K report was filed on August 23, 2024.
Filing Stats: 1,234 words · 5 min read · ~4 pages · Grade level 12.2 · Accepted 2024-08-23 08:50:00
Key Financial Figures
- $0.0001 — nded Warrants have an exercise price of $0.0001 per Ordinary Share, are immediately exe
- $3.25 — y Share at a combined purchase price of $3.25. The Series A Warrants have an exercise
- $3.55 — es A Warrants have an exercise price of $3.55 per share, are immediately exercisable
- $5.5 million — ering and the Private Placement will be $5.5 million. The closing of the Offering and the Pr
Filing Documents
- zk2431912.htm (6-K) — 25KB
- exhibit_4-1.htm (EX-4.1) — 85KB
- exhibit_4-2.htm (EX-4.2) — 86KB
- exhibit_4-3.htm (EX-4.3) — 83KB
- exhibit_5-1.htm (EX-5.1) — 11KB
- exhibit_5-2.htm (EX-5.2) — 11KB
- exhibit_10-1.htm (EX-10.1) — 221KB
- exhibit_10-2.htm (EX-10.2) — 46KB
- exhibit_99-1.htm (EX-99.1) — 15KB
- image0.jpg (GRAPHIC) — 31KB
- image00002.jpg (GRAPHIC) — 32KB
- image2.jpg (GRAPHIC) — 32KB
- image00003.jpg (GRAPHIC) — 84KB
- image00004.jpg (GRAPHIC) — 343KB
- 0001178913-24-002742.txt ( ) — 1306KB
Forward-Looking Statements
Forward-Looking Statements : This report contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, Evogene is using forward-looking statements when it discusses the closing of the Offering. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, and involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, conditions for the closing of the Offering, the current war between Israel, Hamas and Hezbollah and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel, and those risk factors contained in Evogene's reports filed with the applicable securities authorities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections and assumptions. EXHIBIT INDEX Exhibit No. 4.1 Form of Series A Warrant 4.2 Form of Series B Warrant 4.3 Form of Pre-Funded Warrant 5.1 Opinion of Meitar | Law Offices 5.2 Opinion of Sullivan & Worcester LLP 10.1 Form of Securities Purchase Agreement 10.2 Placement Agency Agreement, dated August 23, 2024 23.1 Consent of Meitar | Law Offices (included in Exhibit 5.1) 23.2 Consent of Sullivan & Worcester LLP (included in Exhibit 5.2) 99.1 Press Release issued by Evogene Ltd. on August 23, 2024 SIGNATURE Pursuant to the requirements of