Cingulate completes $6M debt financing, appoints Bryan Downey as CCO

Cingulate Inc.

Issued $6.57M unsecured promissory note at 9% interest, maturing 18 months, to Avondale Capital for $6M net proceeds.
Bryan Downey appointed Chief Commercial Officer; granted 30,000 options at $3.80/share, vesting over 4 years.
Cash runway extended into Q2 2026; proceeds for working capital and general corporate purposes.
FDA accepted NDA for CTx-1301 (ADHD); PDUFA target action date May 31, 2026.
Note includes monthly redemption up to $660k after PDUFA; company can defer up to 2 redemptions with 1% fee.

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