Cocrystal Pharma announces up to $13M registered direct offering

Cocrystal Pharma (COCP) announced that it has entered into definitive agreements for the purchase and sale of 2,764,710 shares of its common stock at a purchase price of $1.70 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the company will issue unregistered warrants to purchase up to 5,529,420 shares of common stock at an exercise price of $1.50 per share that will be exercisable upon issuance and will expire twenty-four months from the effective date of the registration statement covering the resale of the shares of common stock issuable upon exercise of the unregistered warrants. The closing of the offering is expected to occur on or about September 15, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the company from the offering, before deducting the placement agent’s fees and other offering expenses payable by the company, are expected to be approximately $4.7M. The potential additional gross proceeds to the company from the warrants, if fully-exercised on a cash basis, will be approximately $8.3M. No assurance can be given that any of such short-term warrants will be exercised. The company intends to use the net proceeds from this offering for working capital and general corporate purposes.