---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-006608"
form_type: "8-K"
ticker: "DRMA"
cik: "0001853816"
company_name: "Dermata Therapeutics, Inc."
filed_at: "2024-05-17T23:59:59+00:00"
generated_at: "2026-06-01T16:55:23.661851+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Dermata raises $2.66M via immediate exercise of warrants at reduced price; issues new warrants

## Summary
- Exercise of 516,336 warrants at reduced exercise price of $5.16 per share for cash gross proceeds of ~$2.66M.
- Issues new Series A warrants for 601,174 shares (exercise price $4.91, 5.5-year term) and Series B warrants for 431,498 shares (exercise price $4.91, 24-month term).
- H.C. Wainwright acts as placement agent; receives 7% cash fee plus 36,144 placement agent warrants at $6.45 exercise price.
- Net proceeds for general corporate purposes including R&D, clinical trials, and working capital.
- Closing expected on or about May 21, 2024; resale registration statement to be filed for new warrant shares.

## SEC filing metadata
- accession: 0001654954-24-006608
- form_type: 8-K
- ticker: DRMA
- cik: 0001853816
- company_name: Dermata Therapeutics, Inc.
- filed_at: 2024-05-17T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1853816/000165495424006608/0001654954-24-006608-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853816/000165495424006608/drma_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-006608
- JSON: https://secwatch.observer/filing/0001654954-24-006608.json
- Plain text: https://secwatch.observer/filing/0001654954-24-006608.txt

## Key facts
- Material Agreements
  Dermata Therapeutics, Inc. entered into Inducement Letter with holders of Existing Warrants valued at aggregate gross proceeds of approximately $2.66 million (effective 2024-05-17).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: holders of Existing Warrants
  - Value: aggregate gross proceeds of approximately $2.66 million
  - Effective: 2024-05-17
  source text: On May 17, 2024, Dermata Therapeutics, Inc. (the “ Company ”) entered into inducement offer letter agreements (each, an “ Inducement Letter ”) with holders (the “ Holders ”) of certain of the Company's existing warrants
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853816/000165495424006608/0001654954-24-006608-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.