Corporate ActionJun 30, 2026, 08:01 PM
Cadrenal Therapeutics Raises $3M in Private Placement
AI Summary
Cadrenal Therapeutics, Inc. announced a definitive agreement for a private placement with a single healthcare-focused institutional investor, raising $3 million in gross proceeds. The offering includes common stock (or pre-funded warrants) and Series C-1 and C-2 warrants, with potential additional gross proceeds of approximately $5.8 million if all warrants are fully exercised. The net proceeds are expected to extend the company's cash runway into the first quarter of 2027, or into the second half of 2027 if warrants are fully exercised, to advance partnering opportunities for tecarfarin and CAD-1005.
Key Highlights
- Secured $3 million in gross proceeds from a private placement.
- Potential for approximately $5.8 million additional gross proceeds from full warrant exercise.
- Issued 960,000 shares of common stock (or pre-funded warrants) and 1.92 million warrants.
- Combined purchase price of $3.125 per share (or pre-funded warrant) and accompanying warrants.
- Series C-1 and C-2 warrants have an exercise price of $3.00 per share.
- Initial proceeds are anticipated to extend the cash runway into Q1 2027.
- Full warrant exercise could extend the cash runway into H2 2027.
- Net proceeds will be used for working capital and to advance pipeline opportunities.
Price Impact
More from CVKD