Phio raises $2.8M via warrant exercise at $1.33, issues new warrants at $1.08

Phio Pharmaceuticals Corp.

Existing warrant holders exercise 2,130,252 shares at reduced price of $1.33/share; gross proceeds ~$2.8M.
Phio issues new unregistered Series A and Series B warrants to purchase up to 4,260,504 shares at $1.08/share.
Series A warrants have a 5.5-year term; Series B warrants have an 18-month term.
H.C. Wainwright serves as exclusive placement agent; receives 7.5% cash fee and 159,769 placement agent warrants.
Net proceeds intended for working capital and general corporate purposes; offering expected to close Dec 8, 2023.

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 Inducement Letter Agreement with certain holders valued at approximately $2.8 million (effective 2023-12-06).

Action: entry
Agreement: equity purchase
Counterparty: certain holders
Value: approximately $2.8 million
Effective: 2023-12-06

Exact text from the filing

On December 6, 2023, Phio Pharmaceuticals Corp., a Delaware corporation (the “Company”), entered into an inducement letter agreement (the “Inducement Letter Agreement”) with certain holders (the “Holders”) of certain of its existing warrants to purchase up to an aggregate of 2,130,252 shares of the Company’s common stock

View on SEC.gov

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

Phio Pharmaceuticals Corp. filing history →

Source: SEC EDGAR

accession 0001683168-23-008732

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.