Phio raises $3.19M in registered direct offering and warrant placement

Phio Pharmaceuticals Corp.

Gross proceeds of $3.19M; net ~$2.85M after fees and expenses.
Sold 1,063,670 shares at $3.00/share; issued warrants for up to 2,127,340 shares at $3.00, exercisable 24 months.
H.C. Wainwright acted as placement agent; received 7.5% cash fee plus 79,775 warrants at $3.75.
Net proceeds to be used for working capital and general corporate purposes.
Offering closed on January 14, 2025; priced at-the-market under Nasdaq rules.

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