Lincoln Park SPA - The price at which shares are sold to Lincoln Park on a given day is determined by the Purchase Agreement, which specifies that the purchase price per share for a Regular Purchase is 95% of the lesser of the lowest sale price for the Ordinary Shares on Nasdaq on the purchase date or the average of the three lowest closing sale prices during the ten consecutive business days immediately preceding the purchase date. The amount of shares that can be sold to Lincoln Park is also defined in the agreement: on any business day, the company can direct Lincoln Park to purchase up to 25,000 shares, with the possibility of increasing this to 35,000 or 50,000 shares if the closing sale price is not below $3.00 or $4.00, respectively. However, no more than $500,000 in shares can be sold in a single Regular Purchase. Additionally, there are provisions for Accelerated Purchases, which allow for the sale of additional shares based on trading volume and other conditions. EFFECTIVE, DATED 2025-08-29
8-A12B
Form 8-A12B - Registration of securities [Section 12(b)]
