Autonomix Medical (NASDAQ:AMIX) Completes Underwritten Public Offering

Autonomix Medical, Inc. recently announced the conclusion of a firm commitment underwritten public offering on November 25, 2024. The offering included 458,691 common units and 917,596 pre-funded units, with the purchase prices set at $6.540 for Common Units and $6.539 for Pre-Funded Units. The underwriters were further granted a 45-day option to purchase additional shares to cover any over-allotments.

The Pre-Funded Warrants and Series A Warrants issued in the offering are outlined with exercise prices at $0.001 per share and $6.540 per share, respectively. These instruments play a key role in the financial structuring of the transaction. The Company granted the Underwriters a 45-day option to purchase additional shares of common stock and/or additional Series A Warrants, ensuring flexibility in managing demand.

The Offering, declared effective on November 22, 2024, was guided by an effective registration statement on Form S-1 and a final prospectus filed with the Securities and Exchange Commission. The net proceeds from the Offering are primarily earmarked for funding clinical trials, research and development, intellectual property development, and working capital.

The Underwriters received an 8.0% underwriting discount and were further reimbursed for certain out-of-pocket expenses up to $115,000. Additional warrants were also granted to the Underwriters, solidifying the terms of the agreement.

In alignment with customary procedures, the Underwriting Agreement also includes representations, warranties, and agreements by the Company, alongside indemnification obligations and termination provisions. These elements contribute to establishing a framework for the transaction and its subsequent obligations.

Following the Offering, press releases were issued on November 22, 2024, detailing the pricing of the Offering, and on November 25, 2024, announcing the official closing. These releases provide transparent communication on key developments to stakeholders.

Investors are encouraged to refer to the full text of the Underwriting Agreement, Pre-Funded Warrant, Series A Warrant, the Warrant Agency Agreement, and Representative’s Warrant, copies of which are filed as Exhibits and are incorporated in the Company’s disclosure filings. The agreements serve to provide detailed insight into the terms and conditions governing the Offering.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Autonomix Medical’s 8K filing here.

About Autonomix Medical

Autonomix Medical, Inc, a development stage medical device development company, focuses on advancing technologies for sensing and treating disorders relating to the peripheral nervous system. Its technology platform includes a catheter-based microchip-enabled sensing array to detect and differentiate peripheral neural signals.