HOTH - Hoth Therapeutics trades lower after $15M capital raise

Hoth Therapeutics (HOTH) inks securities purchase agreement with institutional investors to raise capital through issuance of an ~7.59M common shares at $1.975/share, in a private placement priced at-the-market.Additionally, warrants to purchase of ~7.59M shares at exercise price of $1.86/share, expiring 3 years from the issue date.The gross proceeds to the Company from the private placement are expected to be ~$15M.Net proceeds to be used for development of Hoth's product candidates and for working capital and general corporate purposes.Closing date is March 10.Shares down 6% premarket.

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Hoth Therapeutics trades lower after $15M capital raise