IGC Pharma Welcomes Strategic Investment from Advisors
IGC Pharma (NYSE American:IGC) announced that its recently appointed advisors have entered into a Share Purchase Agreement on April 21, 2025, to invest approximately $475,000 in the company. The investment price is set at the higher of 30 cents or $0.01 over the last closing price.
Under the agreement, IGC will issue 1,583,333 shares of unregistered common stock, subject to 144 restrictions and a six-month trading lockup period. The private placement completion requires NYSE approval and other customary closing conditions.
The funds will support general corporate purposes and advance IGC's CALMA Phase 2 clinical trial focusing on agitation in Alzheimer's disease. The company views this investment as a vote of confidence from its advisors in IGC's mission to transform Alzheimer's treatment.
IGC Pharma (NYSE American:IGC) ha annunciato che i suoi consulenti recentemente nominati hanno stipulato un Accordo di Acquisto di Azioni il 21 aprile 2025, per investire circa 475.000 dollari nella società. Il prezzo di investimento è fissato al valore più alto tra 30 centesimi o 0,01 dollari oltre l'ultimo prezzo di chiusura.
Secondo l'accordo, IGC emetterà 1.583.333 azioni ordinarie non registrate, soggette a restrizioni ai sensi della sezione 144 e a un periodo di lockup di sei mesi per la negoziazione. Il completamento del collocamento privato richiede l'approvazione della NYSE e altre condizioni di chiusura consuete.
I fondi saranno utilizzati per scopi aziendali generali e per portare avanti la fase 2 dello studio clinico CALMA di IGC, focalizzato sull'agitazione nella malattia di Alzheimer. L'azienda considera questo investimento un segnale di fiducia da parte dei suoi consulenti nella missione di IGC di trasformare il trattamento dell'Alzheimer.
IGC Pharma (NYSE American:IGC) anunció que sus asesores recientemente nombrados firmaron un Acuerdo de Compra de Acciones el 21 de abril de 2025 para invertir aproximadamente 475,000 dólares en la empresa. El precio de inversión se establece en el mayor valor entre 30 centavos o 0.01 dólares por encima del último precio de cierre.
Según el acuerdo, IGC emitirá 1,583,333 acciones ordinarias no registradas, sujetas a las restricciones de la sección 144 y a un periodo de bloqueo para la negociación de seis meses. La finalización de la colocación privada requiere la aprobación de la NYSE y otras condiciones habituales de cierre.
Los fondos apoyarán propósitos corporativos generales y avanzarán el ensayo clínico de fase 2 CALMA de IGC, centrado en la agitación en la enfermedad de Alzheimer. La compañía considera esta inversión como una muestra de confianza de sus asesores en la misión de IGC de transformar el tratamiento del Alzheimer.
IGC Pharma (NYSE American:IGC)는 최근 임명된 자문단이 2025년 4월 21일 약 475,000달러를 투자하기 위한 주식 매매 계약을 체결했다고 발표했습니다. 투자 가격은 최근 종가에 30센트 또는 0.01달러 중 높은 금액으로 책정되었습니다.
계약에 따라 IGC는 1,583,333주의 미등록 보통주를 발행하며, 이는 섹션 144 제한과 6개월 거래 잠금 기간이 적용됩니다. 사모 배정 완료는 NYSE 승인 및 기타 일반적인 종결 조건을 필요로 합니다.
자금은 일반 기업 목적에 사용되며, 알츠하이머병의 행동 문제를 다루는 IGC의 CALMA 2상 임상시험 진행에 기여할 예정입니다. 회사는 이번 투자를 자문단이 IGC의 알츠하이머 치료 혁신 사명에 신뢰를 보낸 신호로 보고 있습니다.
IGC Pharma (NYSE American:IGC) a annoncé que ses conseillers récemment nommés ont conclu un accord d'achat d'actions le 21 avril 2025, pour investir environ 475 000 dollars dans la société. Le prix d'investissement est fixé au montant le plus élevé entre 30 cents ou 0,01 dollar au-dessus du dernier cours de clôture.
Dans le cadre de cet accord, IGC émettra 1 583 333 actions ordinaires non enregistrées, soumises aux restrictions de la section 144 et à une période de blocage de six mois pour la négociation. La finalisation du placement privé nécessite l'approbation de la NYSE ainsi que d'autres conditions habituelles de clôture.
Les fonds serviront à des fins générales d'entreprise et permettront d'avancer l'essai clinique de phase 2 CALMA d'IGC, axé sur l'agitation dans la maladie d'Alzheimer. La société considère cet investissement comme un signe de confiance de ses conseillers dans la mission d'IGC de transformer le traitement de la maladie d'Alzheimer.
IGC Pharma (NYSE American:IGC) gab bekannt, dass seine kürzlich ernannten Berater am 21. April 2025 eine Aktienkaufvereinbarung unterzeichnet haben, um etwa 475.000 US-Dollar in das Unternehmen zu investieren. Der Investitionspreis wird auf den höheren Wert von 30 Cent oder 0,01 US-Dollar über dem letzten Schlusskurs festgelegt.
Im Rahmen der Vereinbarung wird IGC 1.583.333 nicht registrierte Stammaktien ausgeben, die den Beschränkungen gemäß Abschnitt 144 und einer sechsmonatigen Handelslock-up-Periode unterliegen. Der Abschluss der Privatplatzierung erfordert die Genehmigung der NYSE sowie weitere übliche Abschlussbedingungen.
Die Mittel werden für allgemeine Unternehmenszwecke verwendet und unterstützen die Weiterführung der CALMA Phase-2-Studie von IGC, die sich auf Unruhe bei Alzheimer konzentriert. Das Unternehmen sieht diese Investition als Vertrauensbeweis seiner Berater in die Mission von IGC, die Alzheimer-Behandlung zu revolutionieren.
- Secured $475,000 in new strategic investment from advisors
- Investment demonstrates confidence in company's Alzheimer's treatment program
- Funds will support advancement of CALMA Phase 2 clinical trial
- Share issuance of 1,583,333 new shares will dilute existing shareholders
- Shares are restricted from trading for six months
- Investment still subject to NYSE approval and closing conditions
POTOMAC, MARYLAND / ACCESS Newswire / April 24, 2025 / IGC Pharma, Inc. (NYSE American:IGC) ("IGC" or the "Company") today announced that the Company's recently appointed advisors entered into a Share Purchase Agreement (the "SPA") on April 21, 2025, for the purchase of common shares from the Company.
The investment, subject to the terms and conditions set forth in the SPA, is for approximately
The funds will support general corporate purposes and the Company's advancement of CALMA Phase 2 clinical trial on agitation in Alzheimer's disease.
Ram Mukunda, CEO commented, "We're pleased to see this strong vote of confidence from our new advisors. Their strategic investment underscores their belief in IGC Pharma's mission to transform the Alzheimer's treatment landscape. We look forward to working with our Advisors in accelerating our Phase 2 CALMA trial and building long-term value for shareholders."
Please note that this press release does not constitute an offer to sell or a solicitation of an offer to buy these securities. Furthermore, there shall be no sale of the securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of the respective state.
About IGC Pharma's New Advisors:
Frank Zaccanelli, a seasoned entrepreneur and former President, General Manager, and minority owner of the Dallas Mavericks, under Perot family's majority ownership. He led the development of the American Airlines Center in Dallas Texas and has been a public commentator on finance, politics, global strategy, and brings decades of leadership in venture capital, private equity, and public-private partnerships. Mr. Zaccanelli will support IGC Pharma in identifying and cultivating strategic partnerships, as well as advising on the Company's engagement with brand ambassador and key influencers in the Alzheimer's space.
Robert K. Coughlin, former President and CEO of MassBio, has been a champion of biotech innovation and recently received the 2025 Henri A. Termeer Innovative Leadership Award for his enduring contributions to the life sciences ecosystem. As a cystic fibrosis parent, Bob works tirelessly to raise awareness and invest in companies working on cystic fibrosis. His public service includes time as a Massachusetts State Representative and Undersecretary of Economic Development. Mr. Coughlin will support IGC's Alzheimer's regulatory strategy, clinical engagement, and support relations with pharmaceutical companies.
Joseph H. Mangan is a retired brand strategist, a current Knight of the Order of Malta, and a board member of the New York Athletic Club. Joe has been committed to humanitarian aid and service to those in need. His deep empathy for vulnerable populations, particularly the elderly, aligns closely with IGC Pharma's mission to support Alzheimer's patients and caregivers. Mr. Mangan will advise the Company on strategic partnerships with clinical sites, hospitals, and Alzheimer's foundations.
About IGC Pharma (dba IGC):
IGC Pharma (NYSE American:IGC) is a clinical-stage biotechnology company leveraging AI to develop innovative treatments for Alzheimer's and metabolic disorders. Our lead asset, IGC-AD1, is a cannabinoid-based therapy currently in a Phase 2 trial (CALMA) for agitation in Alzheimer's dementia. Our pipeline includes TGR-63, targeting amyloid plaques, and early-stage programs focused on neurodegeneration, tau proteins, and metabolic dysfunctions. We integrate AI to accelerate drug discovery, optimize clinical trials, and enhance patient targeting. With 30 patent filings and a commitment to innovation, IGC Pharma is advancing breakthrough therapies.
Forward-Looking Statements:
This press release contains forward-looking statements. These forward-looking statements are based largely on IGC Pharma's expectations and are subject to several risks and uncertainties, certain of which are beyond IGC Pharma's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, the Company's failure or inability to commercialize one or more of the Company's products or technologies, including the products or formulations described in this release, or failure to obtain regulatory approval for the products or formulations, where required, or government regulations affecting AI or the AI algorithms not working as intended or producing accurate predictions; general economic conditions that are less favorable than expected; the FDA's general position regarding cannabis- and hemp-based products; and other factors, many of which are discussed in IGC Pharma's U.S. Securities and Exchange Commission ("SEC") filings. IGC incorporates by reference its Annual Report on Form 10-K filed with the SEC on June 24, 2024, and on Form 10-Qs filed with the SEC on August 7, 2024, November 12, 2024, and February 14, 2025, as if fully incorporated and restated herein. Considering these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will occur.
Contact Information
Rosalyn Christian
IMS Investor Relations
igc@imsinvestorrelations.com
(203) 972-9200
SOURCE: IGC Pharma, Inc.
View the original press release on ACCESS Newswire
FAQ
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