Skye Bioscience, Inc. — Form 8-K

On August 21, 2026, Skye Bioscience entered an Equity Purchase Agreement with Redmile Biopharma Investments III, L.P. for up to $22,000,000 in common and non-voting shares via monthly purchase notices (max $2M/month), plus a warrant to purchase ~$5M worth of shares (amount divided by PIPE price). Redmile becomes a ~10% beneficial owner cap holder with registration rights; shares priced at lower of PIPE price or market price (minimum 90% of PIPE price). The facility terminates on the third anniversary of closing or upon earlier qualifying events (change of control, other equity raise exceeding available amount, funded PIPE reaching $125M+).