IGC Pharma (IGC, Financial) has secured a $475,000 investment through a Share Purchase Agreement (SPA) executed by its newly appointed advisors. Signed on April 21, 2025, the agreement involves the acquisition of common shares directly from the company. The purchase price will be set at either 30 cents or 1 cent above the last closing price, whichever is higher.
This private placement, which is contingent upon standard closing procedures such as New York Stock Exchange approval, involves the issuance of 1,583,333 unregistered common shares. These shares are subject to Rule 144 restrictions, making them non-tradable for a six-month period.
The raised capital is intended to support general corporate activities and to further develop IGC's CALMA Phase 2 clinical trial, which focuses on addressing agitation in Alzheimer's disease patients. This strategic move is a significant step in IGC Pharma's ongoing efforts to advance its research and treatment initiatives.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for IGC Pharma Inc (IGC, Financial) is $3.88 with a high estimate of $4.25 and a low estimate of $3.50. The average target implies an upside of 1,183.96% from the current price of $0.30. More detailed estimate data can be found on the IGC Pharma Inc (IGC) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, IGC Pharma Inc's (IGC, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for IGC Pharma Inc (IGC, Financial) in one year is $0.40, suggesting a upside of 32.54% from the current price of $0.3018. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the IGC Pharma Inc (IGC) Summary page.
