InvestmentMay 14, 2026, 04:08 PM
GridAI Technologies Secures $7.79M in Private Placements
AI Summary
GridAI Technologies Corp. announced two private placements totaling approximately $7.79 million. The first financing, valued at $2.54 million, involves the sale of common stock, pre-funded warrants, and common warrants. A second, larger financing of $5.25 million also includes common stock, pre-funded warrants, and common warrants. The company plans to use the net proceeds for general corporate purposes, including working capital and repayment of outstanding liabilities.
Key Highlights
- GridAI Technologies Corp. entered into securities purchase agreements for a $2.54 million private placement.
- This first placement includes 74,000 shares of common stock, 1,196,001 pre-funded warrants, and 1,270,001 common warrants.
- The combined purchase price for one share/pre-funded warrant and one common warrant in the first placement is $2.00.
- Common warrants from the first placement have exercise prices of $2.56, $2.74, and $2.89 per share.
- The company also secured a $5.25 million private placement through an additional securities purchase agreement.
- This second placement includes 87,260 shares of common stock, 1,745,199 pre-funded warrants, and 1,832,459 common warrants.
- The combined purchase price for one share/pre-funded warrant and one common warrant in the second placement is $2.865.
- Net proceeds from both financings, totaling approximately $7.79 million, will be used for general corporate purposes and debt repayment.
Price Impact
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