BioCardia Inc (BCDA) has released an update.
BioCardia, Inc. has engaged in a private placement deal with qualified investors, including its CEO Peter Altman, agreeing to sell over 2 million shares and warrants potentially leading to additional shares. Investors, including Altman, purchased shares at prices slightly below market, with gross proceeds expected to be around $875,000. These funds are earmarked for general corporate use. The warrants can be exercised after the placement closes, which is anticipated on February 13, 2024, and extend until 2026. This move is set to facilitate funding without public offering, as the securities involved are not registered under the Securities Act but will be covered by a forthcoming registration statement for resale.
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For a comprehensive understanding of the announcement, you can read the full document here.
