Summary by Futu AI
On October 15, 2024, Cingulate Inc., a company listed on the Nasdaq Capital Market under the trading symbol CING, announced an increase in the maximum aggregate offering price of its common stock under the At The Market Offering Agreement with H.C. Wainwright & Co., LLC. The increase is from the previous amount of $15,196,658 to a new total of $23,536,658. This adjustment was made alongside the filing of a prospectus supplement for an additional $8,340,000 in shares. Prior to this announcement, Cingulate Inc. had already sold shares amounting to $11,323,947.19 under the same Sales Agreement. The company also filed a legal opinion from Lowenstein Sandler LLP regarding the legality of the newly offered shares, which is included as Exhibit 5.1 in the report.