お知らせ • Sep 12
Meta Materials Inc. announced that it expects to receive $50 million in funding from Lincoln Park Capital, LLC
Meta Materials Inc. announced that it has entered into a purchase agreement with new investor Lincoln Park Capital Fund, LLC to issue 500,000 common shares at an issue price of $100 per share for the gross proceeds of $50,000,000 on September 11. 2023. The shares have over the 30 month term of the Purchase Agreement. Concurrently with entering into the Purchase Agreement, the Company also entered into a registration rights agreement with Lincoln Park, pursuant to which it agreed to provide Lincoln Park with certain registration rights related to the shares issued under the Purchase Agreement. From and after the Commencement Date, the Company has the right, but not the obligation, on any business day selected by the Company provided that on such day the closing sale price per-share of the Common Stock is above the Floor Price, as defined in the Purchase Agreement, to require Lincoln Park to purchase up to 500,000 shares of Common Stock at the Purchase Price per purchase notice, however, that the limit on the Regular Purchase Amount will be increased 1,000,000 shares, if the closing sale price of the Common Stock on the applicable Purchase Date is not below $0.20, 1,500,000 shares, if the closing sale price of the Common Stock on the applicable Purchase Date is not below $0.30, and (iii) 2,000,000 shares, if the closing sale price of the Common Stock on the applicable Purchase Date is not below $0.40. The purchase price for Regular Purchases (the “Purchase Price shall be equal to the lesser of ninety-seven percent (97%) of the lower of the lowest Sale Price on the Purchase Date for such Regular Purchase and the arithmetic average of the three (3) lowest Closing Sale Prices (as defined in the Purchase Agreement) for the Common Stock during the ten consecutive Business Days ending on the Business Day immediately preceding such Purchase Date for such Regular Purchase in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction that occurs on or after the date of the Purchase Agreement. The Company shall have the right to submit a Regular Purchase notice to the Investor as often as every business day. The purchase price of Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases and the minimum closing sale price for a Regular Purchase will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction occurring during the business days used to compute the purchase price. The aggregate number of shares that the Company can sell to Lincoln Park under the Purchase Agreement may in no case exceed 95,497,527 shares (subject to adjustment as described above) of Common Stock unless shareholder approval is obtained to issue Purchase Shares above the Exchange Cap, in which case the Exchange Cap will no longer apply, or the average price of all applicable sales of Common Stock to Lincoln Park under the Purchase Agreement equals or exceeds the Minimum Price.