DealsJun 10, 2026, 05:11 PM
Swarmer Enters Agreement to Sell Up to 3M Shares to Lucid Capital
AI Summary
Swarmer, Inc. has entered into a Common Stock Purchase Agreement with Lucid Capital Markets, LLC, granting the company the right to sell up to 3,000,000 shares of its common stock to Lucid over a 24-month period. The timing and amount of sales are at Swarmer's discretion, contingent on conditions such as SEC effectiveness of a registration statement and a minimum stock price of $1.00. The shares will be purchased at 98% of the volume weighted average price, providing Swarmer with a flexible capital raising mechanism.
Key Highlights
- Swarmer, Inc. entered a Common Stock Purchase Agreement with Lucid Capital Markets, LLC.
- The company has the right to sell up to 3,000,000 common shares to Lucid over 24 months.
- Sales are at Swarmer's sole discretion, subject to conditions including SEC effectiveness.
- Each purchase is limited to the lesser of 250,000 shares or 20% of daily NASDAQ volume.
- A minimum closing sale price of $1.00 on NASDAQ is required for purchases.
- The purchase price is 98% of the volume weighted average price (VWAP) during the valuation period.
- Lucid's beneficial ownership is capped at 4.99% of outstanding shares.
- The agreement also includes provisions for Intraday Purchases under similar terms.
Price Impact
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