Hoth Therapeutics raises $4.2M via warrant exercise inducement, issues new warrants for 3.75M shares

Hoth Therapeutics, Inc.

Gross proceeds of ~$4.2M from immediate cash exercise of 2.5M existing warrants at reduced exercise price of $1.6775 (down from $5.00).
Company issues new unregistered warrants to purchase up to 3.75M shares at $1.50, exercisable immediately until July 3, 2028.
Offering expected to close on or about April 1, 2024; H.C. Wainwright acting as exclusive placement agent.
Net proceeds used for general working capital purposes.
Company agreed to file resale registration statement for shares underlying new warrants within 30 days of closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hoth Therapeutics, Inc. entered into Inducement Letter with a certain holder of existing warrants valued at aggregate gross proceeds of approximately $4.2 million (effective 2024-03-27).

Action: entry
Agreement: equity purchase
Counterparty: a certain holder of existing warrants
Value: aggregate gross proceeds of approximately $4.2 million
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, Hoth Therapeutics, Inc., a Nevada corporation (the “ Company ”), entered into an inducement offer letter agreement (the “ Inducement Letter ”) with a certain holder (the “ Holder ”) of existing warrants (the “ Existing Warrants ”) to purchase shares of common stock of the Company.

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Hoth Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-026868

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