Phio terminates $621K share purchase agreement with Triton Funds after stock falls below floor

Phio Pharmaceuticals Corp.

On July 3, 2024, Phio terminated the Purchase Agreement with Triton Funds LP, effective immediately.
The agreement allowed Triton to buy up to 95,833 shares at $6.48/share for gross proceeds up to $621,000.
No shares were ever sold under the agreement; termination followed a $5.23 close on July 3, below the $6.48 floor.
Phio's Board determined termination was advisable to pursue alternative financing.
Press release states the agreement would have allowed Triton to purchase up to 18.8% of common stock.

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