Cingulate Inc. Closes $10M Public Offering
Ticker: CINGW · Form: 8-K · Filed: May 28, 2024 · CIK: 1862150
| Field | Detail |
|---|---|
| Company | Cingulate Inc. (CINGW) |
| Form Type | 8-K |
| Filed Date | May 28, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $2.5 million, $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, public-offering, r&d
TL;DR
Cingulate just closed a $10M public offering, cash in hand for R&D.
AI Summary
On May 21, 2024, Cingulate Inc. announced the closing of its previously disclosed underwritten public offering. The company successfully raised approximately $10.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses. Cingulate Inc. intends to use the net proceeds for general corporate purposes, including research and development, clinical trials, and working capital.
Why It Matters
This capital infusion provides Cingulate Inc. with additional funds to advance its research and development efforts, potentially leading to new treatments or therapies.
Risk Assessment
Risk Level: medium — While raising capital is positive, the use of funds for general corporate purposes and R&D indicates ongoing development and potential future funding needs.
Key Numbers
- $10.0M — Gross Proceeds (Raised from public offering before expenses)
Key Players & Entities
- Cingulate Inc. (company) — Registrant
- May 21, 2024 (date) — Date of earliest event reported
- $10.0 million (dollar_amount) — Gross proceeds from public offering
FAQ
What was the total amount of gross proceeds raised in the public offering?
Cingulate Inc. raised approximately $10.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses.
When did the event reported in this 8-K occur?
The earliest event reported in this Form 8-K occurred on May 21, 2024.
What is the primary intended use of the net proceeds from the offering?
Cingulate Inc. intends to use the net proceeds for general corporate purposes, including research and development, clinical trials, and working capital.
What is the exact name of the registrant?
The exact name of the registrant is Cingulate Inc.
In which state was Cingulate Inc. incorporated?
Cingulate Inc. was incorporated in Delaware.
Filing Stats: 1,587 words · 6 min read · ~5 pages · Grade level 14.6 · Accepted 2024-05-28 09:20:12
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share CING The Nasdaq Stock Mar
- $2.5 million — mum stockholders' equity requirement of $2.5 million under the Nasdaq Listing Rule 5550(b)(1
- $1.00 — ment to maintain a minimum bid price of $1.00 per share for continued listing on Nasd
Filing Documents
- form8-k.htm (8-K) — 49KB
- 0001493152-24-021465.txt ( ) — 264KB
- cing-20240521.xsd (EX-101.SCH) — 4KB
- cing-20240521_def.xml (EX-101.DEF) — 26KB
- cing-20240521_lab.xml (EX-101.LAB) — 36KB
- cing-20240521_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CINGULATE INC. Dated: May 28, 2024 By: /s/ Shane J. Schaffer Name: Shane J. Schaffer Title: Chief Executive Officer