Sep. 10 at 1:04 PM
$CTOR CTOR files prospectus for
$9M offering
https://www.sec.gov/Archives/edgar/data/1851484/000121390025086384/ea0256104-424b5_citius.htm
5,142,858 Shares at
$1.75, gross proceeds
$9M. After fees and expenses, net proceeds expected to be
$7.48M. The shares are registered pursuant to the
$200M shelf filed earlier in September.
CTOR's outstanding shares will be 83,513,442. Offering expected to close Sept 10. 65 day lock-up (approx Nov 14).
5,142,858 warrants will be issued in a concurrent private placement, with a
$1.84 exercise price. The warrants will be registered under a separate S-1.
Amendment to Promissory Note: In Aug 2024, CTOR issued a promissory note to
$CTXR for
$3.8M. Under the original terms, the Note had to be repaid if CTOR did a single capital raise of at least
$10M. CTOR will now repay the
$3.8M Note if CTOR does a series of raises that provides gross proceeds of at least
$30 million. So far, CTOR raised
$18M in gross proceeds. After they raise an additional
$12M, they must repay CTXR.
No updated cash runway in the filing.
