Hoth Therapeutics, Inc. announced that it has entered into a securities purchase agreement with certain institutional investors to issue 549,275 shares of common stock of the company at an issue price of $2.63 per share for the gross proceeds of $1,444,593.25 and pre-funded warrants to purchase up to 550,725 shares of common stock of the company at a purchase price of $2.629 per Pre-Funded Warrant for the gross proceeds of $1,447,856.025; for total gross proceeds of $2,892,449.275 on September 13, 2023. The warrants have an exercise price of $2.505 per share, and are exercisable immediately upon issuance for a five-year period. The transaction is expected to close on September 15, 2023.

The Warrants and the shares issuable upon exercise of the Warrants were sold without registration under the Securities Act of 1933 (the ?Securities Act?) in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act as amended thereunder.