Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 113

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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for gross proceeds from the offering of $5.1 million, prior to deducting placement agent’s fees and other offering expenses payable
by the Company. The shares of Common Stock were offered by the Company pursuant to its shelf registration statement on Form S-3 (File
No. 333-268058), which was declared effective by the Securities and Exchange Commission on December 6, 2022, a base prospectus dated
December 6, 2022 and a prospectus supplement dated January 8, 2025. The closing of the sales of these securities under the Purchase Agreement
took place on January 9, 2025 and the Company received net proceeds of $4,532,000 after deducting placement fees and expenses of $568,000.
The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.

18

MYSEUM, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025 AND 2024

(Unaudited)

Equity Sales Agreement

On February 10, 2025, the Company entered into
a Sales Agreement (the “Sales Agreement”) with The Benchmark Company, LLC (“Benchmark”) to sell shares of the
Company’s common shares (the “Shares”) having an aggregate sales price of up to $6,000,000, from time to time, through
an “at the market offering” program under which Benchmark will act as sales agent. The sales, if any, of the Shares made
under the Sales Agreement will be made by any method permitted by law deemed to be an “at the market offering” as defined
in Rule 415 promulgated under the Securities Act of 1933, as amended.

The Company will pay Benchmark a commission rate
equal to 4.0% of the aggregate gross proceeds from each sale of Shares; provided however, that in the event that the amount of Shares
sold under the Sales Agreement increases to $1 million or more, then the commission rate will be reduced to 3%. In addition, the Company
agreed to provide Benchmark with customary indemnification and contribution rights. The Company will also reimburse Benchmark for certain
specified expenses in connection with entering into the Sales Agreement. The Sales Agreement contains customary representations and warranties
and conditions to the sale of the Shares pursuant thereto. The Company is not obligated to sell any of the Shares under the Sales Agreement
and may