Cingulate Announces Closing of $7.5 Million Public Offering

KANSAS CITY, Kan., Feb. 06, 2024 (GLOBE NEWSWIRE) — Cingulate Inc. (NASDAQ:CING) (“Cingulate,” the “Company,” “we,” “our” or “us”), 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, today announced the closing of its public offering of an aggregate of 3,750,000 shares of its common stock (or common stock equivalents in lieu thereof), Series A warrants to purchase up to 3,750,000 shares of common stock and Series B warrants to purchase up to 1,875,000 shares of common stock, at a public offering price of $2.00 per share (or common stock equivalent in lieu thereof) and accompanying warrants. The Series A warrants have an exercise price of $2.00 per share, are exercisable immediately and will expire five years after the date of issuance, and the Series B warrants have an exercise price of $2.00 per share, are exercisable immediately and will expire two years after the date of issuance.

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