KLOTHO NEUROSCIENCES RAISES OVER $11 MILLION, RETIRES ALL DEBT, AND EXCEEDS NASDAQ STOCKHOLDERS' EQUITY REQUIREMENT
- Raised over $11 million through warrant exercises without need for dilutive new share issuance
- Completely eliminated all debt ($3.1 million) resulting in a debt-free balance sheet
- Expected to meet NASDAQ listing requirements, reducing delisting risk
- Strengthened financial position without taking on new debt obligations
- Previous non-compliance with NASDAQ listing requirements indicates past financial challenges
Highlights:
- Over
Raised:ÌýProceeds were generated through the exercise of existing warrants. Chardan Capital Markets was the exclusive financial advisor in connection with public warrant exercises.$11 Million - Update on NASDAQ Compliance:ÌýKlotho believes it now exceeds the stockholders' equity thresholds required to remain in compliance with NASDAQ listing requirements.
- Zero Debt:ÌýKlotho has fully extinguished all outstanding debt, resulting in a debt-free balance sheet.
In addition, the Company utilized Ìý
About Klotho Neurosciences, Inc.Ìý
Klotho Neurosciences, Inc. (NASDAQ: KLTO) is a biogenetics company focused on the development of innovative, disease-modifying cell and gene therapies using an important human protein derived from the Company's patented form of the "anti-aging" human Klotho gene (s-KL) and its novel promoter and delivery systems to transform and improve the treatment of neurodegenerative and age-related disorders such as ALS, Alzheimer's, and Parkinson's disease. The company's current portfolio consists of its proprietary cell and gene therapy programs using DNA and RNA as therapeutics and genomics-based diagnostic assays. The company is managed by a team of individuals and advisors who are highly experienced in biopharmaceutical product development and commercialization.
For more information, contact:
Investor Contact and Corporate Communications - Jeffrey LeBlanc, CFO
[email protected]
Website:Ìý
Forward-Looking Statements:
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
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SOURCE Klotho Neurosciences, Inc.