Phio Pharmaceuticals raises $3.1M via warrant exercise at $5.45/share; issues new warrants

Phio Pharmaceuticals Corp.

Gross proceeds ~$3.1M from cash exercise of 545,286 existing warrants at reduced price of $5.45/share (original range $324-$9.72).
Holders pay additional $0.125 per new warrant for aggregate $136,321; total gross proceeds include this amount.
New Series C (583,098 shares, 5.5-yr term) and Series D (507,474 shares, 18-mo term) warrants issued, exercise price $5.45.
H.C. Wainwright acts as exclusive placement agent; receives 7.5% cash fee, $35k non-accountable expenses, and 40,896 warrants.
Net proceeds to be used for working capital and general corporate purposes; offering closed July 12, 2024.

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