Autonomix Medical Secures $2.5M Through Warrant Exercise

Autonomix Medical has announced the exercise of warrants for $2.5M gross proceeds. The company entered into agreements with certain holders of its existing warrants for the immediate exercise of certain outstanding warrants to purchase up to 1.47M shares of common stock. This move is expected to provide Autonomix Medical with additional capital to support its operations and growth strategies.

Autonomix Medical, Inc. (NASDAQ: AMIX) has announced the exercise of warrants for $2.5 million in gross proceeds. The company entered into agreements with certain holders of its existing warrants for the immediate exercise of certain outstanding warrants to purchase up to 1.47 million shares of common stock. This move is expected to provide Autonomix Medical with additional capital to support its operations and growth strategies.

The transaction involves warrants originally issued in November 2024, with a reduced exercise price of $1.723 per share. The aggregate gross proceeds from the exercise of the existing warrants are expected to total approximately $2.5 million. In exchange for the immediate exercise of the warrants for cash, Autonomix will issue new unregistered warrants to purchase an equivalent number of common shares at the same $1.723 exercise price. These new warrants will be immediately exercisable and valid for five and a half years from issuance.

Some warrant holders opted to prepay $1.722 of the reduced exercise price and will receive amended warrants with a $0.001 exercise price for the prepaid portion. The transaction is expected to close on or about July 23, subject to customary closing conditions.

Autonomix intends to use the net proceeds from the offering for working capital and general corporate purposes. The company is developing a catheter-based microchip sensing array technology aimed at diagnosing and treating diseases involving the peripheral nervous system. Recently, Autonomix Medical has been granted two new patents by the United States Patent and Trademark Office, covering technologies for enhancing minimally invasive procedures and neurological evaluation and modification.

Additionally, Autonomix Medical announced plans to expand its clinical trial program to include a broader range of visceral cancers. The Ministry of Health of the Republic of Uzbekistan has authorized the company to proceed with the follow-on phase of its trial, known as PoC 2, which will evaluate the safety and efficacy of its proprietary ablation technology for cancer pain mitigation.

The transaction is expected to close on or about July 23, subject to customary closing conditions. Ladenburg Thalmann & Co. Inc. is serving as the placement agent for the transaction.

References:
[1] https://seekingalpha.com/news/4469940-autonomix-medical-announces-exercise-of-warrants-for-25m-gross-proceeds
[2] https://za.investing.com/news/company-news/autonomix-medical-raises-25-million-through-warrant-exercise-deal-93CH-3798707
[3] https://www.stocktitan.net/news/AMIX/autonomix-medical-inc-exercise-of-warrants-for-2-5-million-gross-5ibpsi58tz44.html