(RTTNews) - Citius Pharmaceuticals Inc. (CTXR) 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 a purchase price of $1.22 per share and accompanying short-term warrant in a registered direct offering priced at-the-market under Nasdaq rules. 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 are expected to be approximately $6 million. The potential additional gross proceeds from the short-term warrants, if fully-exercised on a cash basis, will be approximately $9.8 million.
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