Phio raises ~$0.48M in registered direct offering of 240K shares at $2.00/share with warrants

Phio Pharmaceuticals Corp.

Sold 240,000 shares of common stock at $2.00/share for gross proceeds of ~$0.48M; net ~$0.48M after expenses.
Issued warrants to purchase up to 240,000 additional shares at $2.00/share, exercisable immediately, expiring in 5 years.
H.C. Wainwright acted as placement agent; cash fees of 7.5% of gross proceeds plus management fee and warrants.
Proceeds to be used for working capital and general corporate purposes.
Closing occurred on Dec 24, 2024.

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