IGC Pharma announces strategic investment from advisors

IGC Pharma (IGC) announced that the Company’s recently appointed advisors entered into a Share Purchase Agreement on April 21, 2025, for the purchase of common shares from the Company. The investment, subject to the terms and conditions set forth in the SPA, is for approximately $475 thousand at the higher of 30 cents or $0.01 over the last closing price. The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. Under the terms of the SPA, IGC will issue 1,583,333 shares of common stock. The shares are unregistered, subject to 144 restrictions, and are not tradable for a six-month period. The funds will support general corporate purposes and the Company’s advancement of CALMA Phase 2 clinical trial on agitation in Alzheimer’s disease.