Jun. 24 at 4:31 PM
The
$PAVM 8K was interesting. Highlights about VERIS's
$2.5M raise IMO. The BIG one is no more raises till end of 2026
After the Offering, the Company owns 75.3% of the Veris Common Stock on a fully-diluted basis.
The Subscription Agreement contains customary representations, warranties, covenants and indemnities of Veris and the Investors, as well as a covenant by Veris to provide the Investors with protection against subsequent equity raises by Veris at a lower valuation (solely to the extent the Investors continue to hold the shares issued in the Offering), with such protection to be effected through the issuance of additional shares of Veris Common Stock. In addition, Veris granted certain of the Investors a 100% participation right in future offerings of equity securities by Veris, subject to existing participation rights of the Company’s debt holder, and agreed not to incur any indebtedness until December 23, 2026, subject to certain exceptions.