Autonomix Medical entered a warrant inducement agreement with an investor for the immediate exercise of outstanding warrants covering 857,462 shares at $5.75 per share. The exercise is expected to generate about $4.9 million in gross proceeds before financial advisory fees and other offering expenses, with the transaction expected to close on or about August 26. As part of the agreement, Autonomix will issue the investor unregistered Series E-1 and Series E-2 warrants covering an aggregate of 1.07 million shares, each with an exercise price of $6.25 per share, exercisable immediately and expiring five years after issuance. The stock price more than doubled, jumping 116% to $11.63 on Monday after market hours.
Autonomix Medical, Inc. Common StockWarrant exercise deal generates $4.9M gross proceeds and new warrants, boosting liquidity and stock price.
