Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

10-Q filed with SEC

https://www.sec.gov/Archives/edgar/data/1355250/000147793219002567/ipix_10q.htm

14. Subsequent Events

From April 1, 2019 to May 10, 2019, the Company issued 550 shares of its Series B 5% convertible preferred stock, for aggregate gross proceeds of approximately $540,000, upon exercise of 550 warrants issued by the Company in October 2018, including 500 warrants exercised pursuant to the Issuance Agreement (as defined below). In addition, there were 375 preferred stock shares converted to 4,557,103 common stock.

On May 9, 2019, the Company entered into a Warrant Restructuring and Additional Issuance Agreement (the “Issuance Agreement”) with the holders of its Series B preferred stock and warrants to purchase Series B preferred stock (collectively, the “Series B holders”), pursuant to which the Series B holders agreed to exercise warrants to purchase up to $2.5 million of Series B preferred stock through November 2019, subject to the conditions described therein. Pursuant to the Issuance Agreement, the Company also issued the Series B holders 100 shares of additional Series B preferred stock following the execution of the Issuance Agreement and agreed to issue up to an additional 400 shares of additional Series B preferred stock upon exercise of warrants to purchase Series B preferred stock. The Company also issued Series 4 warrants to purchase up to 2,500 shares of Series B preferred stock to the Series B holders following execution of the Issuance Agreement.