Phio Pharmaceuticals has entered into agreements for a $1.15M financing through a registered direct offering and concurrent private placement on December 19, 2024. The company will sell 437,192 common shares at $2.635 per share, along with unregistered warrants to purchase an equal number of shares at $2.51 per share with a five-year exercise period.The net proceeds of approximately $900,000, after deducting fees and expenses, will be used for working capital and general corporate purposes. H.C. Wainwright & Co. serves as the exclusive placement agent, receiving a 7.5% cash fee, 1% management fee, and warrants to purchase up to 32,789 shares at $3.2938 per share.The offering is expected to close on December 20, 2024. The company faces trading restrictions on new share issuances until January 4, 2025, and variable rate transactions until December 20, 2025, with exceptions for potential at-the-market facilities with the placement agent after January 5, 2025.

Phio Pharmaceuticals has entered into agreements for a $1.15M financing through a registered direct offering and concurrent private placement on December 19, 2024. The company will sell 437,192 common shares at $2.635 per share, along with unregistered warrants to purchase an equal number of shares at $2.51 per share with a five-year exercise period.The net proceeds of approximately $900,000, after deducting fees and expenses, will be used for working capital and general corporate purposes. H.C. Wainwright & Co. serves as the exclusive placement agent, receiving a 7.5% cash fee, 1% management fee, and warrants to purchase up to 32,789 shares at $3.2938 per share.The offering is expected to close on December 20, 2024. The company faces trading restrictions on new share issuances until January 4, 2025, and variable rate transactions until December 20, 2025, with exceptions for potential at-the-market facilities with the placement agent after January 5, 2025.