Hoth Therapeutics Closes $2.0M Direct Offering of 2.86M Shares with Warrants
Hoth Therapeutics sold 2,857,144 common shares at $0.70 each in a registered direct offering, generating gross proceeds of about $2.0 million. It also issued warrants for an equal number of shares at a $0.85 strike, exercisable in six months and expiring after 5.5 years.
1. Registered Direct Offering
Hoth Therapeutics closed a registered direct offering of 2,857,144 common shares at $0.70 per share, resulting in approximately $2.0 million in gross proceeds before fees. H.C. Wainwright & Co. served as the exclusive placement agent under the company’s Form S-3 shelf registration.
2. Concurrent Warrant Issuance
In a concurrent private placement, Hoth issued warrants to purchase 2,857,144 shares at an exercise price of $0.85 per share. These warrants become exercisable six months after issuance and will expire five and a half years later, with net proceeds allocated to working capital and general corporate purposes.