Qualigen Therapeutics Announces $4.5 Million Private Placement of Series A-3 Convertible Preferred Stock

Core Points - Qualigen Therapeutics, Inc. has entered into definitive securities purchase agreements for the sale of Series A-3 Preferred Stock, raising a total of $4.5 million through the issuance of 4,500 shares at a stated value of $1,000 per share [1][2] - The Series A-3 Preferred Stock is convertible into 1,607,143 shares of common stock at a conversion price of $2.80 per share, subject to adjustments [1] - The net proceeds from this private placement will be used for working capital purposes [2] Regulatory and Compliance - The Series A-3 Preferred Stock was offered in a private placement under Section 4(a)(2) and/or Rule 506(b) of Regulation D under the Securities Act of 1933 and has not been registered under the Securities Act or applicable state securities laws [3] - The company has agreed to file a registration statement with the SEC covering the resale of the common stock underlying the Series A-3 Preferred Stock within 45 days after the closing date [4] Company Overview - Qualigen Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing novel therapeutics for cancer and infectious diseases, with a pipeline that includes QN-302, QN-247, and small-molecule RAS oncogene inhibitors [6]