Cingulate enters up to $12M equity purchase agreement with Lincoln Park Capital

Cingulate Inc.

Up to $12M of common stock may be sold to Lincoln Park over 36 months at the Company's sole discretion.
368,023 commitment shares issued as consideration; Exchange cap of 2,260,751 shares (19.99% of outstanding).
Lincoln Park agrees not to engage in short sales; beneficial ownership capped at 4.99%.
Proceeds to fund operations, R&D of CTx-1301, CTx-1302, CTx-2103, and working capital.
Company controls timing and amount of sales; no obligation to sell shares to Lincoln Park.

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

Cingulate Inc. entered into Purchase Agreement with Lincoln Park Capital Fund, LLC valued at up to $12.0 million (effective 2023-04-24).

Action: entry
Agreement: equity purchase
Counterparty: Lincoln Park Capital Fund, LLC
Value: up to $12.0 million
Effective: 2023-04-24

Exact text from the filing

On April 24, 2023, Cingulate Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) and a registration rights agreement (the “Registration Rights Agreement”), with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which Lincoln Park has committed to purchase up to $12.0 million of the Company’s common stock

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Cingulate Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-013453

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