Autonomix Medical Raises Up to $2.6M in Warrant Deal (AMIX)

Autonomix Medical (AMIX) is raising up to $2.6 million through a warrant inducement offer, the company said Monday. The deal lets existing warrant holders exercise at an amended price of $6.00 per share, down from the original terms. The offer closes July 15.

Holders who exercise get new warrants for an equal number of shares, exercisable at $7.50 for five years. The company expects net proceeds of roughly $2.5 million after fees.

Autonomix, a development-stage medical device company focused on a catheter-based system for nerve pain, had roughly $1.2 million in cash as of March 31, according to its most recent quarterly filing. The new funds extend its runway into the fourth quarter.

The stock fell 3.2% to $5.45 in afternoon trading Monday, giving back some of last week's 12% gain. Volume was about 40,000 shares, below the 30-day average of 85,000.