Cingulate Announces Exercise Of Warrants For $1.86M Of Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
Cingulate Inc. (NASDAQ:CING) announced the exercise of Series A and B warrants, generating $1.86M in gross proceeds. The exercise price was reduced to $0.585 per share. New Series C and D warrants will be issued, with different expiration dates.
June 28, 2024 | 1:16 pm
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Cingulate Inc. has raised $1.86M through the exercise of Series A and B warrants at a reduced price of $0.585 per share. The company will issue new Series C and D warrants with different expiration dates.
The immediate exercise of warrants at a reduced price provides Cingulate with $1.86M in gross proceeds, which can be used to advance their pharmaceutical pipeline. The issuance of new warrants may also attract investor interest, potentially boosting the stock price in the short term.
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