other material
confidence high
sentiment neutral
materiality 0.55
Phio prices $2.5M registered direct offering of 833,335 shares at $3.00/sh; concurrent private placement of warrants
Phio Pharmaceuticals Corp.
- Gross proceeds of $2.5M; net ~$2.2M after fees and expenses.
- Issued 833,335 common shares at $3.00/sh in registered direct offering.
- Concurrent private placement of short-term warrants for up to 1,666,670 shares at $3.00, exercisable for 24 months.
- Placement agent H.C. Wainwright receives 62,500 warrants at $3.75/sh plus cash fees.
- Proceeds to be used for working capital and general corporate purposes.