Summary by Futu AI
Aclarion has entered into an At-the-Market Issuance Sales Agreement with Ascendiant Capital Markets on September 24, 2024, enabling the company to sell common stock with an aggregate offering price of up to $10 million. The initial offering under this agreement is limited to $1.075 million, in compliance with Form S-3 regulations.The sales will be conducted through Ascendiant Capital Markets as the agent, who will receive a 3.0% commission on gross proceeds. The offering will be made under Aclarion's effective shelf registration statement on Form S-3, which was declared effective by the SEC on September 23, 2024. The company maintains control over sales parameters, including timing, volume, and minimum price requirements.The agreement allows both parties to terminate at their discretion and includes customary indemnification provisions. All sales will be conducted as "at the market offerings" in accordance with Rule 415 of the Securities Act, subject to applicable laws and Nasdaq Stock Market rules.