EKIMAS Issues Warrant for Purchase of Common Stock to Private Investor

On January 2, 2025, EKIMAS (OTCMKTS:ASNB) reported in a Form 8-K filing to the U.S. Securities and Exchange Commission that the company issued a warrant to Nordicus Partners Corporation. This warrant, dated December 30, 2024, allows the purchase of 1,000,000 shares of EKIMAS’s common stock, valued at $0.001 per share, by GK Partners ApS – a private investor located in Denmark. The warrant is set to expire on December 31, 2025.

The exercise price of the warrant is determined as the greater value between $8.91 or the Volume Weighted Average Price (VWAP) on the trading day preceding the delivery of the Expiration Notice to the company. The VWAP, a key parameter in the warrant, is a price calculated based on the trading market and is used to ascertain the fair market value of the common stock.

EKIMAS disclosed this transaction under reported entry into a material definitive agreement in line with Item 1.01 of the filing. The company clarified that the warrant and the consequent warrant shares to be issued upon its exercise were and will be sold in compliance with the exemption from securities registration under Section 4(a)(2) of the Securities Act and Regulation S under the Securities Act. No sales commissions were paid as part of this transaction.

As per Item 9.01 of the filing, the company indicated the key exhibits related to this transaction. This includes the Warrant dated December 30, 2024, issued by Nordicus Partners Corporation to GK Partners ApS, marked as Exhibit 10.1. Additionally, a cover page with an interactive data file has been embedded within the Inline XBRL document as Exhibit 104.

Henrik Rouf, Chief Executive Officer of Nordicus Partners Corporation, signed off on the report on behalf of the company. The submission was made in compliance with the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, on January 2, 2025.

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

About EKIMAS

EKIMAS Corp. engages in the development of polymer materials, which provide characteristics in the design and development of medical devices. Its biomaterials are used in devices that are designed for treating a range of anatomical sites and disease states. The firm’s products include ChronoFlex, ChronoSil, HydroMed, HydroThane, and PolyBlend.