Werth Family Investment Associates Converts $5.8 Million of Debt into Cingulate Equity at a Premium

KANSAS CITY, Kan., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Cingulate Inc. (NASDAQ: CING) (Cingulate), 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, announced today that Werth Family Investment Associates, LLC (“WFIA”), the manager of which is Peter J. Werth, a member of the Cingulate board of directors, has converted $5.8 million of debt and accrued interest into Cingulate equity, at a conversion price of $0.85 per share. The closing price of Cingulate’s common stock on Nasdaq on September 8, 2023 was $0.5776 per share. The debt conversion follows WFIA’s purchase of $1.0 million of Cingulate common stock in a private placement transaction in August 2023.  

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