Cingulate Inc. announces initial price of $ 25.0 million

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KANSAS CITY, Kan., December 7, 2021 (GLOBE NEWSWIRE) – Cingulate Inc. (“Cingulate” or the “Company”), a clinical-stage biopharmaceutical company using its proprietary Precision Timed Release ™ (PTR) drug delivery system ™) technology platform to build and advance a next-generation product pipeline, today announced the price of its initial public offering of 4,166,666 common shares and associated warrants to purchase 4,166,666 common shares .

Each common share is sold with a warrant to purchase one common share with an exercise price of $ 6.00 at a combined public offering price of $ 6.00 per share and the associated warrant. All stocks and warrants are offered by Cingulate. The Company has granted the underwriters a 45-day over-allotment option to purchase up to 624,999 additional common shares and / or warrants to purchase up to 624,999 additional common shares at the initial public offering price.

The shares and warrants are expected to begin trading on the Nasdaq Capital Market under the ticker symbols “CING” and “CINGW”, respectively, on December 8, 2021. The offering is expected to close on December 10, 2021, subject to the satisfaction of customary closing conditions.

Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $ 25.0 million. Cingulate intends to use the net proceeds of the offering for the continuing research and development and pre-market planning of CTx-1301, the continuing research and development of CTx-1302, the validation study concept for CTx-2103, in order to meet the obligations of certain related party notes, to cover unpaid salary costs of employees, including our senior executives, and for working capital, capital expenditures and general objectives of the ‘business, including investing more in research and development efforts.

Aegis Capital Corp. and Laidlaw & Company (UK) Ltd. act as co-lead managers of the underwriters of the offer.

A registration statement on Form S-1 relating to the securities sold under this offering was declared effective by the Securities and Exchange Commission (“SEC”) on December 7, 2021. The offering is being made only by means of a leaflet. Copies of the final prospectus can be obtained, when available, from the SEC’s website, www.sec.gov, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7e Avenue, 18e Floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by phone at (212) 813-1010.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal. before registration or qualification. under the securities laws of any such state or jurisdiction.

About Cingulate®
Cingulate Inc. is a clinical-stage biopharmaceutical company that uses its proprietary Precision Timed Release ™ (PTR ™) drug delivery platform technology to create and advance a pipeline of next-generation pharmaceuticals, designed to improve drug delivery. life of patients with commonly diagnosed diseases. characterized by heavy daily dosage regimens and suboptimal treatment results. Focusing initially on the treatment of Attention Deficit Hyperactivity Disorder (ADHD), Cingulate identifies and assesses additional therapeutic areas where PTR technology can be used to develop future product candidates.

CTx-1301 (dexmethylphenidate) and CTx-1302 (dextroamphetamine) are designed using an innovative and versatile platform technology that will enable the formulation and manufacture of single dose and multiple release tablets designed to provide a fast start and last the entire asset. day, while ensuring a controlled descent of the drug to optimize the treatment. The formulation of Cingulate will be designed as a once-daily multiple-release tablet with clear differentiation and compelling advantages over current treatment options.

Cingulate is headquartered in Kansas City. For more information, visit Cingulate.com.

Forward-looking statements

This press release contains certain forward-looking statements, including those relating to the expected timing of the completion of the offer and use of the product and other statements of a predictive nature. Forward-looking statements are based on the Company’s current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe haven for forward-looking statements. These statements can be identified by the use of forward-looking phrases, including, but not limited to, “expect”, “anticipate”, “intend”, “plan”, “believe” , “Estimate”, “” predict “,” project “,” should “,” would “and similar expressions and the negative aspects of these terms. Potential investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Material Factors that could cause actual results to differ materially from those of forward-looking statements are set out in documents filed by the company with the Securities and Exchange Commission, including its registration statement on Form S-1, such as amended from time to time, under the caption “Risk Factors”.

Contacts:

Investors
Thomas dalton
Head of Investor and Public Relations, Cingulate
TDalton@cingulate.com
913-942-2301

Andy Brimmer / Amy Feng / Tim Ragones
Joele Frank, Wilkinson Brimmer Katcher
abrimmer@joelefrank.com
afeng@joelefrank.com
tragones@joelefrank.com
212-355-4449

Media
Melyssa Weible
Public Relations Elixir Santé
mweible@elixirhealthpr.com
201-723-5805


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