Summary by Futu AI
Aclarion entered into a subscription agreement with accredited investors on August 27, 2024, issuing 1 million shares of common stock at $0.29 per share, raising gross proceeds of $290,000. The shares were offered at-the-market under Nasdaq rules pursuant to the Company's Form 1-A filed in June 2024.Concurrently, the company issued warrants to purchase up to 400,000 shares of common stock, exercisable after February 27, 2025, with a five-year term and an exercise price of $0.29 per share. The transaction was completed without a placement agent, incurring no fees or commissions.The company retains the ability to raise additional proceeds up to approximately $29.39 million under the same terms through its Offering Statement, though no additional agreements are currently in place. The securities were offered under Section 4(a)(2) and Regulation A exemptions from registration requirements.