Citius Pharmaceuticals announces registered direct offering of $15.8 million

Citius Pharmaceuticals (NASDAQ:CTXR [https://seekingalpha.com/symbol/CTXR]) announced on Tuesday that it has entered into definitive agreements for the purchase of an aggregate of 4.92 million shares of its common stock and accompanying short-term warrants to purchase up to an aggregate of 9.84 million shares of its common stock at $1.22 per share and accompanying short-term warrant in a registered direct offering.

The short-term warrants will have an exercise price of $1.00 per share, will be exercisable immediately upon issuance, and will expire twenty-four months from the initial exercise date.

The closing of the offering is expected to occur on or about June 11, 2025.

The aggregate gross proceeds to the company from the offering are expected to be approximately $6 million. The potential additional gross proceeds to the company from the short-term warrants, if fully-exercised on a cash basis, will be approximately $9.8 million.

The company currently intends to use the net proceeds from the offering to support the commercial launch of LYMPHIR, including milestone, regulatory and other payments, as well as for general corporate purposes.

CTXR -28.46% premarket to $0.98.

Source: Press Release [https://seekingalpha.com/pr/20131216-citius-pharmaceuticals-announces-a-registered-direct-offering-of-up-to-15_8-million-priced-at]

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