India, July 1 -- Cadrenal Therapeutics, Inc. (CVKD) has entered into a definitive agreement with a single healthcare-focused institutional investor for a private placement of up to $8.8 million, priced at-the-market under Nasdaq rules.
The financing includes $3 million upfront through the sale of 960,000 shares of common stock (or pre-funded warrants) and accompanying series C-1 and C-2 warrants, at a combined purchase price of $3.125 per share and accompanying warrant. If fully exercised for cash, the warrants could generate an additional $5.8 million in gross proceeds. H.C. Wainwright & Co. acted as exclusive placement agent for the offering.
Cadrenal stated that net proceeds are expected to extend its cash runway into the first quarter...