Here are the S-1 registration statements from Sonoma Pharmaceuticals, Inc. (SNOA) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
An S-1 covers the registration statement a company files to sell shares publicly, so if you follow SNOA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SNOA filings page.
Sonoma Pharmaceuticals, Inc. is registering up to 2,024,291 units in a firm commitment public offering, each unit consisting of one share of common stock (or a Pre-Funded Warrant) and one common warrant. The deal targets approximately $5 million in gross proceeds at an assumed price of $2.47 per unit.
The company is also registering up to 2,125,506 shares of common stock issuable upon exercise of the Pre-Funded Warrants, common warrants and Underwriter’s Warrants. Common stock outstanding would increase from 1,741,424 shares to about 3,847,129 shares, assuming all Pre-Funded Warrants are exercised and none of the warrants are exercised.
Pre-Funded Warrants carry a de minimis $0.0001 exercise price and no expiration, while common warrants are exercisable immediately for five years at a price equal to 100% of the final public offering price. A 4.99% (or, at purchaser election, 9.99%) beneficial ownership cap applies to warrant exercises. Net proceeds of about $4.48 million are earmarked for working capital and general corporate purposes.
Sonoma Pharmaceuticals is planning a firm-commitment underwritten public offering of units to raise approximately $5 million. Each unit includes one share of common stock (or a pre-funded warrant) plus a common warrant to buy one additional share, with warrant exercise prices tied to the final public offering price.
Pre-funded warrants will carry a nominal $0.0001 exercise price and no expiration, with 4.99% or 9.99% beneficial ownership limits, while common warrants will be immediately exercisable and expire five years after issuance. Based on an assumed price of $2.47 per unit, Sonoma estimates net proceeds of about $4.48 million, after a 7.5% underwriting discount and offering expenses.
The company expects to use the cash for working capital and general corporate purposes, including product launches and potential R&D and capital spending. The example capital structure shows pro forma net tangible book value per share rising modestly, but new investors would experience dilution versus the assumed offering price.