Phio Pharma receives ~$2.5M from warrant exercise, issues new warrants

Phio Pharmaceuticals Corp.

Gross proceeds ~$2.5M from exercise of 928,596 warrants at $2.00 and $2.485 per share.
Holders issued new unregistered Series J (5-yr term) and Series K (24-mo term) warrants for up to 1,857,192 shares at $2.485/share.
Holders paid additional $0.125 per new warrant ($232,149 aggregate) as part of inducement.
H.C. Wainwright receives 7.5% cash fee and placement agent warrants for 69,645 shares.
Net proceeds to be used for working capital and general corporate purposes.

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