On August 1, 2024, ZyVersa Therapeutics, Inc. entered into a material definitive agreement with a holder of its Series A and Series B Common Stock purchase warrants. The agreement, known as the Inducement Letter, allows the holder to exercise existing warrants for 196,000 shares of Series A and 43,300 shares of Series B Common Stock at a reduced price of $3.46 per share. In return, ZyVersa will issue new warrants allowing the holder to purchase double the number of shares at the same reduced price, with Series A-1 Warrants valid for 5 years and Series B-1 Warrants for 18 months from the Stockholder Approval Date. The company also entered into a Financial Advisory Agreement with A.G.P./Alliance Global Partners, which will receive a $50,000 fee and...Show More

On August 1, 2024, ZyVersa Therapeutics, Inc. entered into a material definitive agreement with a holder of its Series A and Series B Common Stock purchase warrants. The agreement, known as the Inducement Letter, allows the holder to exercise existing warrants for 196,000 shares of Series A and 43,300 shares of Series B Common Stock at a reduced price of $3.46 per share. In return, ZyVersa will issue new warrants allowing the holder to purchase double the number of shares at the same reduced price, with Series A-1 Warrants valid for 5 years and Series B-1 Warrants for 18 months from the Stockholder Approval Date. The company also entered into a Financial Advisory Agreement with A.G.P./Alliance Global Partners, which will receive a $50,000 fee and reimbursement for legal expenses. The exercise of all existing warrants is expected to generate approximately $830 thousand in gross proceeds, which ZyVersa intends to use for working capital and general corporate purposes. The issuance of shares underlying the new warrants is contingent on stockholder approval, with a meeting to be convened within 90 days post-warrant exercise. Additionally, ZyVersa has committed to filing a registration statement by September 2, 2024, to facilitate the resale of the Inducement Warrant Shares. The Inducement Letter and related agreements are attached to the Form 8-K as exhibits.