Citius Pharmaceuticals (CTXR) announced that it has entered into definitive agreements for the purchase of an aggregate of 4.92M shares of its common stock and accompanying short-term warrants to purchase up to an aggregate of 9.84M shares of its common stock, at a purchase price of $1.22 per share and accompanying short-term warrant in a registered direct offering priced at-the-market under Nasdaq rules. The short-term warrants will have an exercise price of $1.00 per share, will be exercisable immediately upon issuance, and will expire twenty-four months from the initial exercise date. The closing of the offering is expected to occur on or about June 11, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The aggregate gross proceeds to the company from the offering are expected to be approximately $6M, before deducting the placement agent fees and other offering expenses payable by the company. The potential additional gross proceeds to the company from the short-term warrants, if fully-exercised on a cash basis, will be approximately $9.8M. No assurance can be given that any of such short-term warrants will be exercised. The company currently intends to use the net proceeds from the offering to support the commercial launch of LYMPHIR, including milestone, regulatory and other payments, as well as for general corporate purposes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTXR:
- Citius Pharmaceuticals Expands Authorized Shares Significantly
- Citius Oncology enters distribution services agreement with Cardinal Health
- Citius Pharmaceuticals Issues $1M Promissory Note to Pagoda
- Citius Pharmaceuticals downgraded to Hold from Buy at Maxim
- Citius Pharmaceuticals Reports Q1 2025 Earnings and Strategic Developments