Cadrenal Therapeutics has entered into a definitive agreement with a single healthcare-focused institutional investor for a private placement of up to $8.8 million, priced at-the-market under Nasdaq rules. The financing includes $3 million upfront through the sale of 960,000 shares of common stock or pre-funded warrants and accompanying series C-1 and C-2 warrants, at a combined purchase price of $3.125 per share and accompanying warrant. If fully exercised for cash, the warrants could generate an additional $5.8 million in gross proceeds. Net proceeds are expected to extend the company's cash runway into the first quarter of 2027, and potentially into the second half of 2027 if warrants are exercised, supporting partnering opportunities for Tecarfarin in Kawasaki disease and CAD-1005 in cardiac surgery-associated acute kidney injury and heparin-induced thrombocytopenia. The offering is expected to close on or about July 1, 2026, subject to customary conditions.
Cadrenal Therapeutics, Inc. Common StockPrivate placement raises $8.8M, extending cash runway into 2027 and supporting partnering opportunities.