PharmaCyte Biotech, Inc. Secures $7 Million in Funding from Current Investors
Financing Announcement: PharmaCyte Biotech, Inc. has entered into a $7.0 million financing agreement with existing investors, involving the sale of 7,000 shares of Series C convertible preferred stock and warrants for common stock.
Details of Securities: The preferred stock is convertible into 7,000,000 shares of common stock at a price of $1.00 per share, with a 7.0% quarterly cash dividend. The associated warrants also have an exercise price of $1.00 and are valid for five years.
Confidence in Future: Interim CEO Josh Silverman expressed that this financing reflects strong investor confidence in PharmaCyte's future and aims to enhance shareholder value while pursuing strategic alternatives.
Regulatory Compliance: The securities were sold under exemptions from registration requirements, and PharmaCyte plans to file a registration statement with the SEC for the resale of shares issued through this private placement.
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PharmaCyte Monetizes Femasys Stake, Boosts Cash to $20 Million
- Enhanced Financial Strength: PharmaCyte successfully monetized its stake in Femasys, with cash and marketable securities expected to rise from $13.3 million to approximately $20 million, significantly improving the company's financial stability and investment capacity.
- Effective Strategic Execution: CEO Josh Silverman stated that this monetization validates the company's strategic and disciplined capital allocation approach, with plans to continue pursuing value-accretive investment opportunities to enhance shareholder returns.
- Market Performance Analysis: Despite the improved financial position, PharmaCyte's stock currently trades at $0.65 per share with approximately 6.8 million shares outstanding, indicating a cautious market sentiment regarding its long-term value.
- Ongoing Investment Strategy: PharmaCyte intends to maintain strict operational management and capital deployment strategies to further enhance shareholder returns while seizing high-quality investment opportunities.
