Cingulate Announces Pricing of $4.0 Million Public Offering

KANSAS CITY, Kan., Sept. 11, 2023 (GLOBE NEWSWIRE) --  Cingulate Inc. (NASDAQ: CING) (“Cingulate,” the “Company,” “we,” “our” or “us”), a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, today announced the pricing of its public offering of an aggregate of 6,925,208 shares of its common stock (or common stock equivalents in lieu thereof), Series A warrants to purchase up to 6,925,208 shares of common stock and Series B warrants to purchase up to 3,462,604 shares of common stock, at a public offering price of $0.5776 per share (or common stock equivalent in lieu thereof) and accompanying warrants. The Series A warrants will have an exercise price of $0.5776 per share, will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants and will expire five years after the initial exercise date, and the Series B warrants will have an exercise price of $0.5776 per share, will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants   and will expire two years after the initial exercise date. The closing of the offering is expected to occur on or about September 13, 2023, subject to the satisfaction of customary closing conditions.

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