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Hoth Therapeutics, Inc. Announces Closing of $7.0 Million Underwritten Public Offering Priced At-The-Market
NEW YORK, April 14, 2022 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient-focused biopharmaceutical company, today announced the closing of
About this update from Hoth Therapeutics, Inc.
[{"type":"text","content":"NEW YORK, April 14, 2022 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient-focused biopharmaceutical company, today announced the closing of its previously announced underwritten public offering of 8,235,294 shares of common stock (the \"Common Stock\") at a public offering price of $0.85 per share, priced at-the-market under Nasdaq rules, for aggregate gross proceeds of approximately $7.0 million, prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,235,294 shares of Common Stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any.\n\n \n \n \n \n \n \n\n \nThe Company intends to use the net proceeds from this offering for general corporate and working capital purposes.\nEF Hutton, division of Benchmark Investments, LLC, acted as sole book-running manager for the offering. The proposed offering of the Common Stock described above were offered by the Company pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-236887) filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on March 11, 2020, and the accompanying prospectus contained therein.\nA preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC on April 13, 2022. \nCopies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained on the SEC's website at http://www.sec.gov or by contacting EF Hutton, division of Benchmark Investments, LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at [email protected], or by telephone at (212) 404-7002.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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 registration or qualification under the securities laws of any such st...