Hoth Therapeutics, Inc. (HOTH), a clinical-stage biopharmaceutical company, announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 2.85 million shares at an offering price of $0.70 per share in a registered direct offering for gross proceeds of $2 million.
In addition, in a concurrent private placement, the company issued and sold unregistered warrants to purchase up to 2.86 million shares at an exercise price of $0.85 per share, and the potential gross proceeds from the unregistered warrants, if fully exercised on a cash basis, will be approximately $2.4 million.
The company intends to use the net proceeds from this offering for general corporate purposes, including working capital.
The closing of the offering is expected to occur on or about April 2, 2026.
The unregistered warrants will become exercisable six months after issuance and will expire five and one-half years after issuance. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Hoth's lead investigational candidate is HT-001, a topical formulation in Phase II clinical trial for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy.
HOTH has traded between $ 0.50 and $2.11 over the last year. The stock closed Wednesday's trade at $0.54, down 34.86%.
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