Enveric Biosciences sells 1.122M shares at $1.37 in private placement

Enveric Biosciences announced it has entered into agreements with certain holders of its existing warrants exercisable for 1,122,000 shares of the company’s common stock, in the aggregate, to exercise their warrants at a reduced exercise price of $1.37 per share, in exchange for new warrants as described below. The aggregate gross proceeds from the exercise of the existing warrants is expected to total approximately $1.8M, before deducting financial advisory fees. The reduction of the exercise price of the existing warrants and the issuance of the new warrants was structured as an at-market transaction under Nasdaq rules.