Summary by Futu AI
Aclarion, Inc. has entered into an Equity Line Purchase Agreement with White Lion Capital LLC, which allows the company to sell up to $10 million in shares to White Lion. The agreement, which is ongoing and was filed on September 6, 2024, has already seen Aclarion sell shares worth $3,216,981 to White Lion. As part of the agreement, Aclarion issued Commitment Shares valued at $75,000 and may sell additional shares until the end of the Commitment Period on December 31, 2024. The shares are to be sold at a discount to the market price, and while Aclarion will not receive proceeds from White Lion's resale of the shares, it may receive up to $348,000 from future sales under the agreement. The funds raised are intended for general corporate purposes, including working capital. The agreement includes standard terms such as representations, warranties, conditions, and indemnification obligations, and can be terminated by Aclarion if White Lion materially breaches the agreement.