Phio Pharmaceuticals enters purchase agreement with Triton Funds for up to $621k at $0.72 per share

Phio Pharmaceuticals Corp.

Up to 862,500 shares at $0.72/share, representing ~18.8% of outstanding shares.
Gross proceeds up to $621,000; agreement expires Nov 17, 2024 or upon full sale.
Triton has covenanted not to engage in any short selling of PHIO common stock.
Offered under existing shelf registration; prospectus supplement to be filed.
Company may request purchases in one or more transactions based on market conditions.

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 Purchase Agreement with Triton Funds LP valued at $621,000 (effective 2024-05-16).

Action: entry
Agreement: equity purchase
Counterparty: Triton Funds LP
Value: $621,000
Effective: 2024-05-16

Exact text from the filing

On May 16, 2024, Phio Pharmaceuticals Corp., a Delaware corporation (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with Triton Funds LP (“Triton”), pursuant to which the Company agreed to sell, and Triton agreed to purchase, upon the Company’s request in one or more transactions, up to 862,500 shares of the Company’s common stock, par value $0.0001 per share, providing aggregate gross proceeds to the Company of up to $621,000.

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

Phio Pharmaceuticals Corp. filing history →

Source: SEC EDGAR

accession 0001683168-24-003598

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