Skye Bioscience (SKYE) investor relations material

Executive summary

• Entered into an Equity Purchase Agreement with Redmile Biopharma Investments III, L.P. for up to $22 million in equity financing, contingent on proceeds from a concurrent PIPE transaction and subject to monthly and aggregate caps.

• Issued a warrant to Redmile to purchase shares valued at $5 million, exercisable from January 1, 2027, to January 1, 2030, at a price not lower than 90% of the PIPE price.

• Entered into a Registration Rights Agreement requiring prompt registration of resale shares and ongoing compliance with SEC requirements.

• The agreement is part of a broader transaction involving the acquisition of Redx Pharma Limited and related financing arrangements.

Voting matters and shareholder proposals

• Shareholder approval is required to issue shares exceeding 19.99% of outstanding common stock, in compliance with Nasdaq rules.

• The company is obligated to seek and obtain any necessary shareholder approvals for share issuances above the exchange cap.

Board of directors and corporate governance

• Board approval was obtained for the Equity Purchase Agreement and related documents.

• The company must provide board resolutions and officer certifications as closing conditions.