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Hoth Therapeutics Announces Closing of Public Offering of Common Stock
NEW YORK, May 27, 2020 /PRNewswire/ -- Hoth Therapeutics, Inc. ("Hoth" or the "Company") (NASDAQ: HOTH), a biopharmaceutical company, announced today the
About this update from Hoth Therapeutics, Inc.
[{"type":"text","content":"NEW YORK, May 27, 2020 /PRNewswire/ -- Hoth Therapeutics, Inc. (\"Hoth\" or the \"Company\") (NASDAQ: HOTH), a biopharmaceutical company, announced today the closing of its previously announced underwritten public offering of 1,818,182 shares of its common stock, at a price to the public of $2.75 per share. The gross proceeds to Hoth from this offering are expected to be approximately $5.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Hoth. In addition, Hoth has granted the underwriters a 45-day option to purchase up to an additional 272,727 shares of common stock at the public offering price, less underwriting discounts and commissions. Hoth intends to use the net proceeds from the offering for general corporate purposes, including the development of products to prevent Coronavirus (COVID-19), working capital, sales and marketing activities, and general and administrative matters.\n\n \n \n \n \n \n \n\n \nThe Benchmark Company, LLC acted as sole book-running manager for the offering.\nThe securities described above were offered by Hoth pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-236887) previously filed with the Securities and Exchange Commission (the \"SEC\") on March 4, 2020, and declared effective by the SEC on March 11, 2020. A final prospectus supplement and the accompanying prospectus relating to and describing the offering was filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained by visiting the SEC's website at www.sec.gov or by contacting The Benchmark Company, LLC, Attn: Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155, by calling (212) 312-6700 or by e-mail at [email protected].\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Hoth Therapeutics, Inc.\nHoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders. Hoth's pipeline has the potenti...