Cadrenal Therapeutics Announces up to $8.8 Million Private Placement Priced At-The-Market Under Nasdaq Rules
Cadrenal Therapeutics entered into a definitive agreement for a private placement to sell 960,000 shares of common stock and accompanying warrants at $3.125 per share, generating $3 million in upfront gross proceeds. The company also issued Series C-1 and C-2 warrants exercisable at $3.00, which could add approximately $5.8 million in gross proceeds if fully exercised.
Key figures
- Deal Value Usd
- up to $8.8 million
- Offering Price
- 3.125
- Shares Offered
- 960000
- Upfront proceeds
- $3 million
- Warrant exercise price
- $3.00
- Potential warrant proceeds
- approximately $5.8 million
AI analysis
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