DealsApr 26, 2026, 05:20 AM
DAIC Registers 51M Shares for Resale; White Lion $10M ELOC & $2.875M Notes
AI Summary
CID HoldCo, Inc. (DAIC) filed an S-1 to register up to 51,000,000 shares of common stock for potential offer and sale by White Lion Capital, LLC. This includes shares from a $10,000,000 Common Stock Purchase Agreement (ELOC), $120,000 in Commitment Shares, $10,000,000 in Warrant Shares, and $2,875,000 in Convertible Notes. The offering represents approximately 174% of current outstanding shares, potentially causing significant dilution. The company will use proceeds from the ELOC and warrant exercise to repay existing debt and for general corporate purposes.
Key Highlights
- Registers up to 51,000,000 common shares for resale by White Lion Capital.
- White Lion Capital committed to purchase up to $10,000,000 in common stock via ELOC.
- Issued Commitment Shares valued at $120,000 to White Lion Capital.
- Issued Commitment Warrant for up to $10,000,000 of common stock to White Lion.
- Issued $2,875,000 in senior secured convertible notes to White Lion Capital.
- Offering represents ~174% of current 29,293,322 outstanding common shares.
- DAIC common stock last traded at $0.23/share on April 22, 2026.
- Proceeds from ELOC/warrant exercise to repay J.J. Astor & Co. loan.
Price Impact
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