InvestmentJul 2, 2026, 09:01 AM
DNA X Raises $8.1M via Private Placement of Preferred Stock
AI Summary
DNA X, Inc. has entered into a securities purchase agreement with DNA Holdings Venture, Inc., a significant shareholder, for a private placement of Series B Convertible Preferred Stock. The company will issue 1,346,531 shares at $6.00 per share, raising an aggregate of $8.1 million. This amount comprises $5.0 million in cash and the cancellation of $3.1 million of outstanding debt. The net proceeds are intended for working capital and general corporate purposes, and the preferred stock will convert to common stock following stockholder approval.
Key Highlights
- DNA X, Inc. entered into a securities purchase agreement with DNA Holdings Venture, Inc.
- The company agreed to issue and sell 1,346,531 shares of non-voting Series B Convertible Preferred Stock.
- The aggregate offering price is $8.1 million, at a purchase price of $6.00 per share.
- The offering consists of $5.0 million in cash and cancellation of $3.1 million in debt.
- DNA Holdings Venture, Inc. is a holder of over 5% of the company's stock and associated with a board member.
- Net proceeds will be used for working capital and general corporate purposes.
- Series B Preferred Stock will convert to Common Stock upon stockholder approval.
- A registration rights agreement was entered into for the Common Stock issuable upon conversion.
Price Impact
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