On December 22, 2022, Qualigen Therapeutics, Inc. closed the transaction. The warrants issued in the transaction carry the exercise price of $1.65 (equal to 125% of the Conversion Price of the Debenture on the Closing Date). The warrant entitles the investor to purchase up to 2,500,000 shares of common stock of the company and may be exercised by investor, in whole or in part, at any time on or after June 22, 2023 and before June 22, 2028.