(RTTNews) - Dermata Therapeutics Inc. (DRMA), a dermatologic firm, announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 2.02 million shares of common stock and Series C and Series D warrants of those shares. Each share and warrant package is priced at $2.04, generating $4.1 million upfront and the potential for up to $8.3 million in additional cash if all warrants are exercised.
The offering is expected to close on or about December 29, 2025.
Dermata intends to use the net proceeds from the offering for corporate purposes such as consumer research studies, pre-launch and launch activities of a new over-the-counter acne kit, acquiring synergistic companies, licensing activities, and development of emerging technologies.
The series C warrants will expire five years from the effective date of stockholder approval, and the series D warrants will expire twenty-four months from the effective date of stockholder approval.
Dermata insiders, including the Chief Executive Officer and Chief Financial Officer, are participating on the same terms as other investors.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Over the past year, DRMA traded between $1.96 and $23.7.
DRMA closed Wednesday's trading 16.18 % higher at $2.37.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
