Citius Pharmaceuticals Announces $15 Million Registered Direct Offering
CRANFORD, N.J., April 26, 2024 /PRNewswire/ — Citius Pharmaceuticals Inc. (Nasdaq: CTXR) (“Citius” or the “Company”), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products, today announced that it has entered into definitive agreements for the purchase of an aggregate of 21,428,574 shares of its common stock and accompanying warrants to purchase up to an aggregate of 21,428,574 shares of its common stock, at a purchase price of $0.70 per share and accompanying warrant in a registered direct offering. The warrants will have an exercise price of $0.75 per share, will be exercisable six months from the date of issuance, and will expire five years from the initial exercise date. The closing of the offering is expected to occur on or about April 30, 2024, subject to the satisfaction of customary closing conditions.