Qualigen Therapeutics prices 14.7M shares at 13c in public offering

Qualigen Therapeutics announced the pricing of a public offering of 14,724,058 shares of common stock, par value $0.001 per share at a public offering price of $0.13 per Share and pre-funded warrants to purchase up to 11,972,754 Shares at a price of $0.129 per pre-funded warrant with an exercise price of $0.001 per share. The Pre-Funded Warrants are exercisable upon issuance and will remain exercisable until exercised in full. The closing of the offering is expected to occur on or about September 6, 2024, subject to the satisfaction of customary closing conditions. Univest Securities, LLC acted as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering were approximately $3.46 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the sale of the securities offered by us pursuant to this prospectus for our operations and for other general corporate purposes, which may include, but are not limited to: payment on an accelerated basis of the $2,000,000 Senior Note issued in July 2024; advancement of our clinical trial and preclinical studies;general working capital; iv) possible expansion of our relationship with Marizyme, Inc. under the Co-Development Agreement; and v)future acquisitions.