On October 16, 2024, 180 Life Sciences Corp. entered into a material definitive agreement with a holder of its existing warrants. The agreement, known as the Inducement Agreement, allows the holder to exercise warrants for purchasing up to 954,118 shares of the company's common stock at $3.48 per share. The potential gross proceeds for 180 Life Sciences could reach approximately $3.32 million, excluding advisory fees and other expenses. Additionally, the company will issue new unregistered warrants to the holder, allowing the purchase of shares equal to 200% of the common stock issued upon the exercise of the existing warrants. These new warrants are immediately exercisable with a five-year term and an exercise price of $1.50 per share. 180 Life Sciences has committed to filing a registration statement for...Show More

On October 16, 2024, 180 Life Sciences Corp. entered into a material definitive agreement with a holder of its existing warrants. The agreement, known as the Inducement Agreement, allows the holder to exercise warrants for purchasing up to 954,118 shares of the company's common stock at $3.48 per share. The potential gross proceeds for 180 Life Sciences could reach approximately $3.32 million, excluding advisory fees and other expenses. Additionally, the company will issue new unregistered warrants to the holder, allowing the purchase of shares equal to 200% of the common stock issued upon the exercise of the existing warrants. These new warrants are immediately exercisable with a five-year term and an exercise price of $1.50 per share. 180 Life Sciences has committed to filing a registration statement for the resale of the new warrant shares and to maintain its effectiveness. The company plans to use the net proceeds for advancing the commercialization of its technology gaming platform, working capital, and other corporate purposes. A.G.P./Alliance Global Partners has been engaged as the exclusive financial advisor for the transactions, with a fee of $232,000 and up to $65,000 for legal expenses. The securities involved have not been registered under the Securities Act of 1933 and are subject to certain ownership limitations.