Citius Pharma raises ~$15M in registered direct offering of common stock and warrants

Citius Pharmaceuticals, Inc.

Sold 21.43M shares and warrants to buy 21.43M shares at $0.70/combined unit.
Warrants exercisable at $0.75/share from 6 months after issuance, expire in 5 years.
Gross proceeds ~$15M; net proceeds ~$13.8M after placement agent fees and expenses.
Proceeds for general corporate purposes, including pre-clinical/clinical development and working capital.
Offering closed April 30, 2024; H.C. Wainwright acted as exclusive placement agent.

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

Citius Pharmaceuticals, Inc. entered into Purchase Agreement with certain institutional investors (effective 2024-04-25).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Effective: 2024-04-25

Exact text from the filing

On April 25, 2024, Citius Pharmaceuticals, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors for the issuance and sale, in a registered direct offering by the Company (the “Offering”), of 21,428,574 shares of the Company’s common stock, par value $0.001 per share (the “Shares”) and warrants (the “Warrants”) to purchase up to 21,428,574 shares of common stock.

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Citius Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-037861

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