Not sure if this is good or bad. I suppose it depends upon the investment company and how long they will hold onto these converted warrants into shares.
AMENDMENTS TO EXISTING WARRANTS
This prospectus supplement is being filed to disclose the following:
On July 27, 2023, we entered into a Warrant Exercise Agreement (the “Warrant Exercise Agreement”) with Altium Growth Fund Ltd. (the “Investor”) under which the Company agreed to amend certain Common Stock Warrants to purchase up to an aggregate of 2,153,309 shares of common stock of the Company that were previously issued on November 22, 2021, at an exercise price of $1.385 per share of common stock with an expiration date of November 22, 2026.
Under the Warrant Exercise Agreement, with respect to Common Stock Warrants to purchase up to an aggregate of 2,153,309 shares of common stock held by the Investor, the Company agreed to lower the exercise price of such Common Stock Warrants to $1.00 per share of common stock in consideration of the Investor immediately exercising such Common Stock Warrants and receiving 2,153,309 shares of common stock.
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