Vickers Vantage Corp. Announces Completion of Registered Direct Offering –

Vickers Vantage Corp. (OTCMKTS:VCKAU) recently disclosed in an 8-K form filing that on December 11, 2024, it entered into a securities purchase agreement for a registered direct offering. The company agreed to sell and issue 26,355,347 shares of its common stock, along with pre-funded warrants to purchase 2,401,132 shares of common stock and common warrants to purchase 57,512,958 shares of common stock.

The total combined offering price per share of common stock and accompanying common warrants was $0.590, and per pre-funded warrant and accompanying common warrants was $0.5899. The gross proceeds from this offering amount to approximately $17.0 million before any deduction for offering fees and expenses. Vickers Vantage Corp. intends to use the net proceeds for working capital, general corporate purposes, capital expenditures, research and development, regulatory affairs, and potential business combinations.

The offering included precautions to prevent any single investor, along with affiliates, from owning more than 9.99% of the outstanding common stock post-offering. The warrants issued as part of the offering have various exercise prices and terms and are subject to adjustments based on certain events such as stock dividends or splits.

The company also announced an amendment to an existing warrant agreement, where an investor agreed to exercise warrants to purchase 1,764,706 shares of common stock at an amended exercise price of $0.59 per share. The gross proceeds from this exercise amounted to approximately $1.041 million.

Vickers Vantage Corp.’s offerings were conducted under an effective shelf registration statement and closed on December 13, 2024. The company paid certain fees to StockBlock Securities LLC as part of the offering, and warrants were issued as per the contractual obligations.

The 8-K filing also included forward-looking statements cautioning investors about potential risks and uncertainties involved in the company’s operations. Additionally, the company issued press releases on December 12th and December 13th, announcing the pricing and closing of the offering.

Investors interested in further details are encouraged to review the full 8-K filing and related exhibits available on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vickers Vantage Corp. I’s 8K filing here.

About Vickers Vantage Corp. I

As of November 10, 2022, Vickers Vantage Corp. I was acquired by Scilex Holding Company, in a reverse merger transaction. Vickers Vantage Corp. I does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities.