Evogene (EVGN) launches $2.93M at-the-market share offering with A.G.P.
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Evogene Ltd. entered into a Sales Agreement with A.G.P./Alliance Global Partners for an at-the-market equity program allowing sales of its ordinary shares for an aggregate offering price of up to $2,926,500 under an effective Form F-3 shelf registration.
The agent may sell shares on Nasdaq, in block trades, or in privately negotiated transactions, using commercially reasonable efforts based on Evogene’s instructions. Evogene will pay a 3.0% cash commission on gross proceeds, is not obligated to sell any shares, and either party may terminate the agreement as provided. A legal opinion from Meitar | Law Offices and the Sales Agreement are filed as exhibits.
Positive
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Negative
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Key Figures
ATM aggregate size: $2,926,500
Agent commission rate: 3.0% of gross proceeds
Primary shelf registration: Form F-3 File No. 333-277565
+1 more
4 metrics
ATM aggregate size
$2,926,500
Maximum aggregate offering price for ordinary shares under ATM program
Agent commission rate
3.0% of gross proceeds
Cash commission payable to A.G.P./Alliance Global Partners on ATM sales
Primary shelf registration
Form F-3 File No. 333-277565
Registration statement under which ATM shares will be issued
SEC effectiveness date
March 28, 2024
Date Form F-3 shelf registration was declared effective by the SEC
Key Terms
at the market offering, shelf registration statement, Form F-3, Sales Agreement, +1 more
5 terms
at the market offering financial
"through the Agent in an “at the market offering” (the “ATM Offering”)"
An at-the-market offering is a way a company raises cash by selling newly issued shares directly into the open market at prevailing prices, rather than all at once in a single deal. Think of it like turning a faucet on to drip shares into trading at current prices when needed; it gives the company flexibility to raise funds over time but can dilute existing shareholders and potentially affect the stock price, which investors should monitor.
shelf registration statement regulatory
"issued pursuant to a shelf registration statement on Form F-3"
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
Form F-3 regulatory
"shelf registration statement on Form F-3 (File No. 333-277565)"
Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.
Sales Agreement financial
"entered into a Sales Agreement (the “Sales Agreement”) with A.G.P."
A sales agreement is a written contract that sets out the terms for selling goods, services, or assets, specifying price, delivery, payment schedule and responsibilities of each side. For investors it matters because it creates a predictable stream of revenue or cash obligations, clarifies timing and risk, and can change a company’s value or forecasts much like a signed order turns a customer’s verbal intent into a firm commitment.
cash commission financial
"The Company will pay to the Agent a cash commission of 3.0%"
FAQ
What did Evogene (EVGN) announce in this Form 6-K?
Evogene entered a Sales Agreement with A.G.P./Alliance Global Partners for an at-the-market equity program. The arrangement allows Evogene to sell ordinary shares over time under an existing Form F-3 shelf registration statement declared effective by the SEC.
What is the maximum size of Evogene's new ATM offering?
The at-the-market program permits Evogene to sell ordinary shares for an aggregate offering price of up to $2,926,500. These shares will be issued under its effective Form F-3 shelf registration statement and sold from time to time at Evogene’s discretion.
What commission will Evogene pay under the ATM Sales Agreement?
Evogene will pay the agent a cash commission of 3.0% of the gross proceeds from any sale of ordinary shares. This fee applies to shares sold through the at-the-market program established with A.G.P./Alliance Global Partners under the Sales Agreement.
Who is acting as sales agent in Evogene's ATM offering?
A.G.P./Alliance Global Partners is acting as the sales agent for the at-the-market program. The firm may sell Evogene’s ordinary shares on Nasdaq, into other trading markets, in block trades, or in privately negotiated transactions, subject to Evogene’s instructions.