Cadrenal raises $4.7M via warrant exercise; issues new warrants for additional shares

Cadrenal Therapeutics, Inc.

Exercised 285,715 existing warrants at reduced price of $16.50/share, generating ~$4.7M gross proceeds.
Issued new Series A-1 and A-2 warrants each to purchase 285,715 shares at $16.50/share as inducement.
Net proceeds to fund pivotal Phase 3 trial of tecarfarin and partnering activities.
H.C. Wainwright & Co. served as placement agent; receives 7% cash fee and 18,571 placement agent warrants.
New Series A-1 warrants expire in 5 years; Series A-2 expire 18 months after resale registration effective.

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