Meta Materials, Lincoln Park Capital enter into stock purchase deal for up $50M

Meta Materials “announced it has entered into a common stock purchase agreement with Lincoln Park Capital Fund, LLC, a Chicago-based institutional investor. Subject to the terms and conditions of the Agreement, META has the right to sell, and LPC has committed to purchase, up to an aggregate of $50 million of shares of the Company’s common stock over a 30-month period at prices that are based on the prevailing market price at the time of each sale to LPC. META, in its sole discretion, controls the timing and amount of all sales of its common stock under the Agreement, subject to various limitations contained in the Agreement, including those under the Nasdaq listing rules. There are no upper limits to the price per share LPC may pay and LPC has agreed not to enter into or effect any direct or indirect short selling or hedging of META’s common stock. There are no warrants, derivatives, or other share classes associated with this transaction.”