On December 20, 2024, Genenta Science S.p.A. amended its At-The-Market (ATM) Sales Agreement, originally dated April 26, 2024. The amendment involved replacing Capital One Securities, Inc. with Rodman & Renshaw LLC as a sales agent.
Crucially, the amendment also increased the aggregate dollar amount of American Depositary Shares (ADSs) available to be sold under the Sales Agreement to $29,696,999. This represents an increase of $13,637,184 from the previously authorized amount.
This expanded ATM facility provides Genenta with greater flexibility to raise capital, which is essential for funding its ongoing research and development activities and clinical trials. While offering financial runway, such equity raises can lead to dilution for current shareholders.
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