---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-002542"
form_type: "8-K"
ticker: "PHIO"
cik: "0001533040"
company_name: "Phio Pharmaceuticals Corp."
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:29:10.843411+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Phio raises ~$2M in registered direct offering with warrants, amends existing warrants

## Summary
- Issued 353,983 shares at $5.65/share, gross proceeds ~$2.0M; net ~$1.65M after fees.
- Concurrent private placement: Series A (5.5-yr) and Series B (18-mo) warrants for up to 707,966 shares at $5.40.
- Amended 191,619 existing warrants from exercise prices $26.52–$2,079.00 down to $5.40 for $0.125 each.
- Net proceeds for immuno-oncology development, working capital, and general corporate purposes.
- Offering closed April 20, 2023; H.C. Wainwright acted as exclusive placement agent.

## SEC filing metadata
- accession: 0001683168-23-002542
- form_type: 8-K
- ticker: PHIO
- cik: 0001533040
- company_name: Phio Pharmaceuticals Corp.
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1533040/000168316823002542/0001683168-23-002542-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1533040/000168316823002542/phio_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-002542
- JSON: https://secwatch.observer/filing/0001683168-23-002542.json
- Plain text: https://secwatch.observer/filing/0001683168-23-002542.txt

## Key facts
- Material Agreements
  Phio Pharmaceuticals Corp. entered into Engagement Letter with H.C. Wainwright & Co., LLC (effective 2023-01-20).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: H.C. Wainwright & Co., LLC
  - Effective: 2023-01-20
  source text: Pursuant to an engagement letter, dated as of January 20, 2023 (the “Engagement Letter”), between the Company and H.C. Wainwright & Co., LLC, or the placement agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533040/000168316823002542/0001683168-23-002542-index.htm
- Material Agreements
  Phio Pharmaceuticals Corp. entered into Purchase Agreement with certain institutional and accredited investors valued at approximately $1.65 million (effective 2023-04-18).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain institutional and accredited investors
  - Value: approximately $1.65 million
  - Effective: 2023-04-18
  source text: On April 18, 2023, Phio Pharmaceuticals Corp. (the “Company”) entered into a securities purchase agreement with certain institutional and accredited investors (the “Purchase Agreement”) relating to the registered direct offering and sale of 353,983 shares of the Company’s common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533040/000168316823002542/0001683168-23-002542-index.htm

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