Qualigen therapeutics announces $4.5 million private placement of series a-3 convertible preferred stock

Carlsbad, ca, july 28, 2025 (globe newswire) -- qualigen therapeutics, inc. (nasdaq:qlgn) ("qualigen" or the "company"), a life sciences company focused on developing platform treatments for adult and pediatric cancers with the potential for orphan drug designations, today announced that it has entered into definitive securities purchase agreements with several institutional and accredited investors for the sale of its series a-3 preferred stock. the private placement closed on july 28, 2025. the company issued and sold an aggregate of 4,500 shares of series a-3 preferred stock, with a stated value of $1,000 per share, for aggregate gross proceeds of $4.5 million, before deducting placement agent fees and other offering expenses. the series a-3 preferred stock is initially convertible into an aggregate of 1,607,143 shares of common stock of the company at a conversion price of $2.80 per share, subject to adjustment in accordance with the terms of the series a-3 preferred stock certificate of designation.
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