Werth Family Investment Associates Converts Remaining $3.3M of Debt and Accrued Interest into Cingulate Equity at Premium to Market

January 29, 2024

https://www.globenewswire.com/news-release/2024/01/29/2818684/0/en/Werth-Family-Investment-Associates-Converts-Remaining-3-3M-of-Debt-and-Accrued-Interest-into-Cingulate-Equity-at-Premium-to-Market.html

KANSAS CITY, Kan., Jan. 29, 2024 (GLOBE NEWSWIRE) — Cingulate Inc. (NASDAQ:CING) (Cingulate), a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, announced today that Werth Family Investment Associates, LLC (“WFIA”), the manager of which is Peter J. Werth, a member of the Cingulate board of directors, has converted $3.3 million of debt and accrued interest into Cingulate equity at a conversion price of $4.785 per share. The closing price of Cingulate’s common stock on Nasdaq on January 24, 2024 was $4.35 per share.

Read more at globenewswire.com

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