On December 28, 2023, Trevena, Inc. closed the transaction. The company issued 2,779,906 shares, at a price of $0.70 per share for gross proceeds of approximately $1,945,934.2. The warrants to be issued in the offerings will have an exercise price of $0.70 per share, will be exercisable commencing on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of such warrants and will expire five years thereafter.