Summary by Futu AI
Asset Entities has entered into a Waiver and Consent agreement with Ionic Ventures LLC on September 20, 2024, enabling the company to proceed with an at-the-market offering of equity securities worth up to $5 million. Ionic, as the sole holder of the company's Series A Convertible Preferred Stock, has waived any restrictions or adverse adjustments that would otherwise apply under their existing Securities Purchase Agreement.The waiver grants Asset Entities the flexibility to enter into agreements, file prospectus supplements, announce, and execute the at-market offering without triggering adjustments to the Conversion Price of Series A Preferred Stock. Additionally, the company can issue Class B Common Stock and other securities related to the offering or settle obligations arising from it.