Hoth Therapeutics Announces Exercise of Warrants for $4.2 Million Gross Proceeds
NEW YORK, March 27, 2024 /PRNewswire/ — Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient focused biopharmaceutical company, today announced the entry into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 2,500,000 shares of common stock of the Company originally issued in January 2023, having an exercise price of $5.00 per share, at a reduced exercise price of $1.6775 per share. The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-3 (No. 333-269224). The gross proceeds to the Company from the exercise of the warrants are expected to be approximately $4.2 million, prior to deducting placement agent fees and estimated offering expenses.