LIFECORE BIOMEDICAL INC DE
For the period ended Aug 25, 2024. Filed Oct 4, 2024.
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Aug 25, 2024 · Filed Oct 4, 2024
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Subsequent Events
- Subsequent Events
On October 3, 2024, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain entities. Pursuant to the Purchase Agreement, the Company agreed to sell an aggregate of 5,928,775 shares of its common stock (the “Shares”) for aggregate gross proceeds of approximately $24,300 (the “Offering”). The purchase price for each Share was $4.10. The Offering closed on October 3, 2024.
On August 28, 2024, the Company appointed Ryan D. Lake as the Company’s Chief Financial Officer and Secretary, effective September 3, 2024. Under Mr. Lake’s employment agreement, his compensation and benefits include a PSU award for
-18- up to 750,000 shares and an RSU award of 262,500 shares. The grant-date fair value of these PSUs was $2,518, of which $1,305, $890, and $323 are projected to be recognized during FY2025, FY2026, and FY2027, respectively. The grant-date fair value of the RSUs was $1,147, which will be recognized over thefive-year vesting period.
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