Lipocine (LPCN) has shared an update.
Lipocine Inc. has entered into a new at-the-market (ATM) agreement with A.G.P./Alliance Global Partners to offer and sell up to $10.6 million in shares. This move comes as the company terminated its previous sales agreement with Cantor Fitzgerald & Co. to facilitate this new arrangement. The shares will be sold through A.G.P. using methods allowed by law, including sales on the Nasdaq Capital Market, and A.G.P. will receive a commission of 3% on gross proceeds. Both parties retain the right to terminate the agreement with ten days’ notice, and the offering will continue only until the agreement expires or is terminated.
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