Benzinga | Aug 2, 2020 05:51PM EDT

Qualigen Therapeutics Prices $10M Registered Direct Offering Involving a Single Institutional Investor @$5.73/Common Share and $0.125/Common Warrant

Qualigen Therapeutics, Inc. (NASDAQ:QLGN) ("Qualigen" or the "Company"), today announcedit has entered into a definitive agreement with a single institutional investor for the purchase and sale for $10,000,000 of (i) 1,717,106 Common Shares and (ii) 1,287,829 Common Warrants at a combined purchase price of $5.82375 ($5.73 per Common Share and $0.125 per full Common Warrant)in a registered direct offering priced at-the-market under Nasdaq rules. The Common Warrants will have an exercise price of $6.00 per share, are exercisable immediately and have a term of two years. The closing of the offering is expected to occur on or about August 4, 2020, subject to the satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering