© Reuters.
Petvivo Holdings, Inc. (NASDAQ:PETV), a company specializing in medical devices for pets, announced the termination of its at-the-market (ATM) sales agreement with ThinkEquity, LLC, effective as of last Thursday.
The agreement, which was initially established on August 23, 2023, allowed Petvivo to periodically sell shares of its common stock with a total offering price of up to $2.5 million.
Under the now-terminated agreement, Petvivo had successfully issued and sold 674,000 shares, resulting in net proceeds of approximately $959,033. This move to end the ATM agreement was a mutual decision between Petvivo and ThinkEquity.
The ATM sales agreement was part of a broader strategy by Petvivo to raise capital through the sale of its shares in the open market. The sales were conducted in accordance with Rule 415 of the Securities Act of 1933, which governs at-the-market…
