Phio raises ~$4M in concurrent registered direct offering and private placement at $4.28/share

Phio Pharmaceuticals Corp.

Gross proceeds ~$4M; net proceeds ~$3.5M after fees; closed June 2, 2023.
Issued 233,646 shares in registered direct and 700,935 shares (or pre-funded warrants) in private placement at $4.28 each.
Issued Series A (5.5-yr term) and Series B (18-mo term) warrants to purchase up to 934,581 shares each at $4.03.
Proceeds to fund immuno-oncology programs, working capital, and general corporate purposes.
H.C. Wainwright acted as placement agent; received 7.5% cash fee and warrants to purchase 70,094 shares at $5.35.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Phio Pharmaceuticals Corp. entered into Registered Direct Purchase Agreement with certain institutional and accredited investors valued at 233,646 shares of common stock at $4.28 per share; RD Series A and B warrants (effective 2023-05-31).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional and accredited investors
Value: 233,646 shares of common stock at $4.28 per share; RD Series A and B warrants
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, Phio Pharmaceuticals Corp. (the “Company”) entered into a securities purchase agreement (the “Registered Direct Purchase Agreement”) with certain institutional and accredited investors in connection with a registered direct offering (the “Registered Direct Offering”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Phio Pharmaceuticals Corp. entered into Engagement Letter with H.C. Wainwright & Co., LLC with H.C. Wainwright & Co., LLC valued at Cash fee of 7.5% of gross proceeds; management fee of 1.0%; $60,000 for non-accountable expenses; $1 (effective 2023-01-20).

Action: entry
Agreement: underwriting
Counterparty: H.C. Wainwright & Co., LLC
Value: Cash fee of 7.5% of gross proceeds; management fee of 1.0%; $60,000 for non-accountable expenses; $1
Effective: 2023-01-20

Exact text from the filing

Pursuant to an engagement letter, dated as of January 20, 2023 (the “Engagement Letter”), between the Company and H.C. Wainwright & Co., LLC (the “Placement Agent”), the Company agreed to pay the Placement Agent a total cash fee equal to 7.5% of the gross proceeds received in the Registered Direct Offering and the PIPE Private Placement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Phio Pharmaceuticals Corp. entered into PIPE Purchase Agreement with same institutional and accredited investors valued at 72,000 unregistered shares of common stock at $4.28 per share; pre-funded warrants; Series A and B w (effective 2023-05-31).

Action: entry
Agreement: equity purchase
Counterparty: same institutional and accredited investors
Value: 72,000 unregistered shares of common stock at $4.28 per share; pre-funded warrants; Series A and B w
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, the Company also entered into a securities purchase agreement (the “PIPE Purchase Agreement” and, together with the Registered Direct Purchase Agreement, the “Purchase Agreements”) and a registration rights agreement (the “Registration Rights Agreement”) with the same institutional and accredited investors in connection with a concurrent private placement (the “PIPE Private Placement”).

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281 material agreements filed in the last 30 days. Browse all material agreements →

Phio Pharmaceuticals Corp. filing history →

Source: SEC EDGAR

accession 0001683168-23-003863

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