secwatch.observer — SEC 8-K summary
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Issuer:     Cingulate Inc. (CING)
CIK:        0001862150
Form:       8-K
Filed at:   2024-01-29T23:59:59+00:00
Accession:  0001493152-24-004061
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cingulate converts remaining $3.3M debt to equity at premium; appoints new CFO
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- WFIA converted $3.0M principal plus $0.3M accrued interest into pre-funded warrants for 687,043 shares at $4.785/share (premium to $4.35 market close).
- Pre-funded warrants have no expiration, exercise price of $0.0001/share, subject to 19.99% beneficial ownership blocker; all debt now paid in full.
- Jennifer Callahan promoted from Controller to CFO, succeeding retired Lou Van Horn; base salary $350K reduced to $210K under cost-containment.
- Callahan's salary reduction will be repaid with 20% premium three months after NDA filing for CTx-1301.
- The note conversion and CFO appointment were disclosed in two press releases dated January 29, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1862150/000149315224004061/0001493152-24-004061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1862150/000149315224004061/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-004061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer