Inspire Veterinary Partners Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Regulation FD Disclosure
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Section 1 – Registrant’s Business and Operations
Item 1.01 Entry Into a Material Definitive Agreement
On October 21, 20924, Inspire Veterinary Partners, Inc., a Nevada corporation (the “Company”), entered into Securities Purchase Agreements under which the Company agreed to sell to the investors named therein, in a best efforts public offering (the “Offering”), an aggregate of 1,800,000 shares of the Company’s Class A Common Stock, par value $0.0001 per share (the “Shares”) and pre-paid warrants to purchase 8,200,000 shares of Class A Common Stock (the “Pre-paid Warrants”), at a public offering price of $0.25 per Share or Pre-paid Warrant.
The Shares and Pre-paid Warrants were offered by the Company pursuant to a registration statement on Form S-3, as amended (File No. 333-282355), filed with the Securities and Exchange Commission (the “Commission”), which was declared effective by the Commission on October 11, 2024 (the “Registration Statement”). A supplement to the prospectus contained in the Registration Statement filed with the Commission on October 22, 2024.
Spartan Capital Securities, LLC (“Spartan”) acted as the sole placement agent for the Offering and received a fee of 8% of the gross proceeds, reimbursement of $25,000 in non-accountable expenses, and up to $75,000 in legal fees and out-of-pocket expenses, pursuant to a letter of engagement between the Company and Spartan. Gross proceeds from the Offering, before deducting the placement agent’s fees and other offering expenses, were $2,500,000. The Company intends to use the proceeds of the Offering for working capital, general corporate purposes, and potential additional future acquisitions.
Section 7 – Regulation FD
Item 7.01 Regulation FD Disclosure
On October 22, 2024, we released the press release furnished herewith as Exhibit 99.1.
Section 9 – Financial Statements and Exhibits
Item. 9.01. Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 5.1 | Opinion of The Crone Law Group, P.C. | |
| 10.1 | Form of Securities Purchase Agreement | |
| 10.2 | Form of Pre-paid Warrant | |
| 23.1 | Consent of The Crone Law Group, P.C. (included in Exhibit 5.1) | |
| 99.1 | Press Release regarding pricing of the offering | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 22, 2024 | INSPIRE VETERINARY PARTNERS, INC. | |
| By: | /s/ Kimball Carr | |
| Name: | Kimball Carr | |
| Title: | President and Chief Executive Officer | |
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