COEPTIS, Inc. (NASDAQ: COEP) shares began Thursday lower. The pioneering technology company dedicated to advancing cutting-edge technologies and artificial intelligence at the forefront of innovative biotechnology therapeutic solutions, today announced the successful closure of an additional $5.7 million in its final Series A Preferred Offering, bringing the total financing round to $10 million. This significant achievement highlights investor confidence in Coeptis’ innovative therapeutic solutions and its strategic pivot towards technology-driven growth.
The financing was led by CJC Investment Trust, an entity controlled by board member Christopher Calise, through an increase in their initial investment in the round. Under the terms of the latest financing, the Series A Preferred is convertible into shares of the Company’s common stock at a price of $8.00 per share, subject to limitations. Additionally, investors received an aggregate 15% equity interest in the Company’s newly formed subsidiaries, SNAP Biosciences Inc. and GEAR Therapeutics Inc. This announcement follows an initial closure of $4.3 million in June 2024.
The proceeds from this financing will be utilized to strengthen the Company’s balance sheet, repay outstanding obligations, and support general corporate purposes, alongside the $4.3 million already raised. Moreover, the additional capital will accelerate Coeptis’ ongoing integration of advanced AI solutions and automation capabilities, enhancing not only research processes but also the overall operational framework of the Company.
COEP shares dished off a dime, or 1%, to $10.18.
