NEW YORK, May 28, 2020 (GLOBE NEWSWIRE) -- The Benchmark Company announced the closing on March 27th of an Underwritten Public Offering for Hoth Therapeutics, Inc. (NASDAQ: HOTH) of 1,818,182 shares of common stock at a public offering price of $2.75 per share for gross proceeds of $5.0 million. In addition, the Company has granted the underwriters an option to purchase up to an additional 272,727 shares of common stock to cover over-allotments.
HOTH intends to use the net proceeds from the offering for general corporate purposes and to advance the development of its therapeutic candidates.
The Benchmark Company acted as sole book-running manager of the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc., is a clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders. Hoth’s pipeline has the potential to improve the quality of life for patients suffering from indications including atopic dermatitis, chronic wounds, psoriasis, asthma and acne. Hoth has also recently entered into two different agreements to further the development of two different vaccine prospects to prevent or treat COVID-19. To learn more, please visit www.hoththerapeutics.com
About The Benchmark Company
The Benchmark Company is a full-service investment banking firm offering a suite of corporate finance, advisory and institutional brokerage services. We were founded in 1988 and are headquartered in New York City with offices in San Francisco, Boston, and Milwaukee. Our focus is on fostering the long-term success of our corporate clients through raising capital, providing strategic advisory services, generating insightful research and developing institutional sponsorship by leveraging the firm’s sales, trading and equity research capabilities. https://www.benchmarkcompany.com.
A registration statement on Form S-3 (including a preliminary prospectus describing the terms of the offering) relating to these securities has been filed with the Securities and Exchange Commission (SEC) and has become effective. The offering will be made only by means of a prospectus supplement and accompanying prospectus. A copy of the final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may be obtained, when available, for free on the SEC's website located at http://www.sec.gov. When available, electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting The Benchmark Company, Attn: Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155 or by calling 212-312-6700 or by emailing prospectus@benchmarkcompany.com.
For further information please contact:
Elise Stern
Managing Director, Institutional Equities & Corporate Services
150 East 58th Street 17th Floor | New York, New York 10155
D: 212-312-6747 | estern@benchmarkcompany.com
Member FINRA/SIPC