XML 34 R20.htm IDEA: XBRL DOCUMENT v3.25.0.1
SUBSEQUENT EVENTS
6 Months Ended
Dec. 31, 2024
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

(14) SUBSEQUENT EVENTS

 

On February 10, 2025, the Company entered into definitive agreements with a single healthcare focused institutional investor for the purchase and sale of 4,688,000 shares of its common stock (or common stock equivalents in lieu thereof) in a registered direct offering (the “Registered Direct Offering”) at a purchase price of $1.00 per share.

 

The Company also agreed to issue to the same investor in a concurrent private placement warrants to purchase up to an aggregate of 4,688,000 shares of common stock (the “Private Placement” and, together with the Registered Direct Offering, the “Offering”). The warrants being issued in the concurrent Private Placement will have an exercise price of $1.00 per share, will be exercisable beginning on the six-month anniversary of the date of issuance and will expire five and a half years from the date of issuance.

 

The gross proceeds from the Offering totaled $4,687,786. The Company intends to use the net proceeds from the Offering for general corporate purposes.