Eightco (NASDAQ: OCTO) sets up $2.7B at-the-market stock offering
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Eightco Holdings Inc. entered into a Sales Agreement with R.F. Lafferty & Co., Inc. to sell, from time to time, shares of its common stock in an at-the-market offering program with an aggregate sales price of up to $2,700,000,000. The Agent will use commercially reasonable efforts to execute sales under the company’s instructions and may receive a commission of up to 3.0% of the gross proceeds from each sale. The company is not obligated to sell any shares, and it may suspend offers or terminate the agreement at any time. The common stock to be sold, if any, will be issued under Eightco’s automatic shelf registration statement on Form S-3 and a related prospectus supplement filed in connection with this ATM program.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
FAQ
What did Eightco Holdings Inc. (OCTO) announce in this 8-K?
Eightco Holdings Inc. entered into a Sales Agreement with R.F. Lafferty & Co., Inc. to sell shares of its common stock in an at-the-market offering program with an aggregate sales price of up to $2,700,000,000.
What is the size of Eightco Holdings at-the-market stock offering?
The at-the-market offering program permits Eightco Holdings to sell shares of its common stock having an aggregate sales price of up to $2,700,000,000 from time to time.
Who is acting as sales agent for Eightco Holdings ATM offering and what is the commission?
R.F. Lafferty & Co., Inc. is the sales agent, and it is entitled to a commission of up to 3.0% of the gross proceeds from each sale of common stock under the at-the-market offering.
Under what registration is Eightcos ATM stock offering being conducted?
Shares sold in the at-the-market offering, if any, will be issued and sold pursuant to Eightcos automatic shelf registration statement on Form S-3 and a related prospectus supplement filed with the SEC.