Hepion Pharmaceuticals Raises $20M via Private Placement of Convertible Preferred Stock

On November 4, 2022, Hepion Pharmaceuticals, Inc., a Delaware corporation (the “ Company ”), entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with certain institutional investors (the “ Investors ”), pursuant to which the Company agreed to issue and sell, in a private placement (the “ Offering ”), 1,900,000 shares of the Company’s Series F Convertible Redeemable Preferred Stock, par value $0.0001 per share (the “ Series F Preferred Stock ”), and 100,000 shares of the Company’s Series G Convertible Redeemable Preferred Stock, par value $0.0001 per share (the “ Series G Preferred Stock ,” and together with the Series F Preferred Stock, the “ Preferred Stock ”), at an offering price of $9.50 per share, representing a 5% original issue discount (“ OID ”) to the stated value of $10.00 per share, for gross proceeds of $20 million in the aggregate for the Offering, before the deduction of discounts, fees and offering expenses.