Form 8-K Novan, Inc. For: Jul 21

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Go back to Form 8-K Novan, Inc. For: Jul 21

Novan (NOVN) enters $30M common stock purchase agreement with Aspire Capital Fund

July 22, 2020 7:23 AM EDT

Novan (NASDAQ: NOVN) disclosed:


On July 21, 2020, Novan, Inc. (the Company), entered into a common stock purchase agreement (the Purchase Agreement) with Aspire Capital Fund, LLC, an Illinois limited liability company (Aspire Capital) which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $30.0 million of shares of the Companys common stock at the Companys request from time to time during the 30-month term of the Purchase Agreement. Upon execution of the Purchase Agreement, the Company agreed to sell to... More