Hoth Therapeutics Announces Closing of $10 Million Private Placement Priced At-the-Market Under Nasdaq Rules

NEW YORK, Jan. 3, 2023 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH) (the "Company" or "Hoth"), a patient-focused biopharmaceutical company, today announced the closing of its previously announced private placement of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase shares of common stock priced at-the-market under Nasdaq rules, resulting in gross proceeds to the Company of $10 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company sold and issued 2,000,000 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 2,500,000 shares of common stock in the private placement, at a purchase price of $5.00 per share and accompanying warrants. The warrants have an exercise price of $5.00 per share, are exercisable immediately and have a term of five and one-half years. The pre-funded warrants have an exercise price of $0.001 per share, are exercisable immediately and will expire when exercised in full.

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