Cingulate raises ~$12M in private placement of common stock, preferred, and warrants

Cingulate Inc.

• Gross proceeds ~$12M; issues 2.15M common shares, 973 shares Series A preferred at $1,000 stated value, and warrants for 1.87M shares.
• Purchase price $5.14 per common share (includes $0.10 per warrant share); conversion/exercise price $5.04.
• Series A preferred carries 12% cumulative annual dividend; conversion requires stockholder approval.
• Falcon Creek (manager of lead investor) may designate two directors after stockholder approval.
• Proceeds used for working capital and general corporate purposes; 180-day lock-up and 24-month standstill.