Summary by Futu AI
On June 7, 2024, Nano-X Imaging Ltd entered into a Sales Agreement with Cantor Fitzgerald & Co. and Mizuho Securities USA LLC for an at-the-market (ATM) offering. The agreement allows Nano-X to sell up to $100 million of its ordinary shares through the designated agents on the Nasdaq Stock Market or other existing trading markets.The agents will receive a 3.0% cash commission on gross proceeds from sales under the agreement. Shares will be issued under a shelf registration statement on Form F-3. The company is not obligated to make any sales, and there's no assurance regarding the price, number, or timing of potential share sales.The agreement includes customary indemnification rights and can be terminated by either party as specified. This ATM offering provides Nano-X with a flexible mechanism to raise capital as needed, potentially supporting its ongoing operations and growth initiatives.