Qualigen Therapeutics, Inc. Announces Closing of $3.47 Million Public Offering
Summary
The Company intends to use the net proceeds from the sale of the securities offered by us pursuant to this prospectus for our operations and for other general corporate purposes, which may include, but are not limited to: i) payment on an accelerated basis of the $2,000,000 Senior Note issued in July 2024 (July Senior Note); ii) advancement of our clinical trial and preclinical studies; iii) general working capital; iv) possible expansion of our relationship with Marizyme, Inc. under the Co-Development Agreement, and v) possible future acquisitions.The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-272623) originally filed with the Securities and Exchange Commission (SEC) on June 13, 2023, as amended, and became effective on September 4, 2024. The Company may in some cases use terms such as predicts, believes, potential, continue, anticipates, estimates, expects, plans, intends, may, could, might, likely, will, should or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. These forward-looking statements are subject to risks and uncertainties including risks related to the Companys ability to regain compliance with Nasdaqs continued listing requirements, including the Minimum Bid Price Requirement and the Minimum Stockholders Equity Requirement or its alternatives prior to October 31, 2024, the Companys ability to file its Form 10-Q for the period ended September 30, 2024, or otherwise in the future, or otherwise maintain compliance with any other listing requirement of The Nasdaq Capital Market, the potential de-listing of the Companys shares from The Nasdaq Capital Market due to its failure to comply with the Minimum Bid Price Requirement or the Minimum Stockholders Equity Requirement or its alternatives, and the Companys ability to file its Form 10-Q for the period ended September 30, 2024, or otherwise in the future, and the other risks set forth in the Companys filings with the Securities and Exchange Commission, including in its Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q. The Company disclaims any intent or obligation to update these forward-looking statements beyond the date of this news release, except as required by law.