PetVivo Holdings Inc To Terminate ATM Sales Agreement, Dated As Of August 23, 2023 Between Co And With ThinkEquity LLC
Portfolio Pulse from Benzinga Newsdesk
PetVivo Holdings Inc and ThinkEquity LLC have mutually agreed to terminate their ATM Sales Agreement as of March 7, 2024. Under this agreement, PetVivo had the option to sell shares of its common stock up to $2,500,000 through at-the-market offerings. Prior to termination, PetVivo issued and sold 674,000 shares, raising $959,033.
March 11, 2024 | 2:25 pm
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PetVivo Holdings Inc terminates its ATM Sales Agreement with ThinkEquity, affecting its ability to raise funds through at-the-market offerings.
The termination of the ATM Sales Agreement with ThinkEquity LLC means PetVivo Holdings Inc will no longer be able to raise funds through at-the-market offerings as previously planned. This could impact the company's short-term financial flexibility. However, since the company was able to raise a portion of the funds before termination, the immediate financial impact may be neutral. The long-term effects will depend on the company's ability to find alternative financing solutions.
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