---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-008732"
form_type: "8-K"
ticker: "PHIO"
cik: "0001533040"
company_name: "Phio Pharmaceuticals Corp."
filed_at: "2023-12-08T23:59:59+00:00"
generated_at: "2026-06-07T15:34:13.030199+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001683168-23-008732
- form_type: 8-K
- ticker: PHIO
- cik: 0001533040
- company_name: Phio Pharmaceuticals Corp.
- filed_at: 2023-12-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1533040/000168316823008732/0001683168-23-008732-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1533040/000168316823008732/phio_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-008732
- JSON: https://secwatch.observer/filing/0001683168-23-008732.json
- Plain text: https://secwatch.observer/filing/0001683168-23-008732.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533040/000168316823008732/0001683168-23-008732-index.htm

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