Summary by Futu AI
On October 31, 2024, NeuroSense Therapeutics entered into a Standby Equity Purchase Agreement with YA II PN, LTD., allowing the sale of up to $30 million in ordinary shares over 36 months. NeuroSense will not receive proceeds from the sale of shares by the Selling Shareholder but may receive up to $30 million from sales to YA under the agreement.The agreement includes the issuance of 224,697 Commitment Shares to YA as consideration. An additional 9,775,303 Advance Shares may be sold to YA at 97% of the lowest VWAP during a pricing period. The shares will be sold at NeuroSense's discretion, subject to market conditions and other factors.NeuroSense's ordinary shares are traded on Nasdaq under the symbol "NRSN". The company is an emerging growth company and a foreign private issuer, benefiting from reduced disclosure requirements. The proceeds will support the development of pipeline products and general corporate purposes.