Citius Pharmaceuticals announces $6M registered direct offering priced ATM

Citius Pharmaceuticals (CTXR) announced that it has entered into definitive agreement for the purchase of an aggregate of 3,973,510 shares of its common stock and accompanying common warrants to purchase up to an aggregate of 3,973,510 shares of its common stock, at a purchase price of $1.51 per share and accompanying common warrant in a registered direct offering priced at-the-market under Nasdaq rules. The common warrants will have an exercise price of $1.40 per share, will be exercisable immediately upon issuance, and will expire five years from the initial exercise date. The closing of the offering is expected to occur on or about October 21, 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.