Molekule group, inc. announces $10.0 million private placement and amends loan agreements to defer approximately $6.1 million of principal payments originally scheduled for 2023, 2024 and q1 2025

Palm beach gardens, fla., may 03, 2023 (globe newswire) -- molekule group, inc. (“molekule” or the “company”) (nasdaq: mkul), announced today that it has entered into a securities purchase agreement with a single institutional investor pursuant to which the company agreed to sell in a private placement at an aggregate purchase price of approximately $9,971,500, (i) 3,400,000 shares of the company's common stock, (ii) a series a warrant to purchase up to 3,125,000 shares of common stock, (iii) a series b warrant to purchase up to 6,250,000 shares of common stock, and (iv) a pre-funded warrant to purchase up to 2,850,000 shares of common stock. the private placement is expected to close on or about may 5, 2023, subject to the satisfaction of customary closing conditions.
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