Univest Securities, LLC Announces Successful Closing of $5.1 Million Private Placement for Qualigen Therapeutics, Inc. (NASDAQ: QLGN)
New York, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Univest Securities, LLC ("Univest"), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of private placement of 5,100 Series A-2 Preferred Shares, with a stated value of US$1,000 per share, for its client Qualigen Therapeutics, Inc. (NASDAQ:QLGN) ("Qualigen" or the "Company"), a life science company focused on developing platform treatments for adult and pediatric cancers, with the potential for orphan drug designations.
The aggregate gross proceeds to the Company of the offering were approximately $5.1 million, before deducting placement agent fees and other offering expenses.
Univest Securities, LLC acted as the sole placement agent.
The securities offered in the private placement are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and/or Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements.
The Company has agreed to file a registration statement with the SEC covering the resale of the common shares underlying the Series A-2 Preferred Shares and Warrants no later than fourteen days following the closing of this transaction.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus, can be obtained at the SEC's website at www.sec.gov.
About Univest Securities, LLC
Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, wealth management. It strives to provide clients with value-add service and focuses on building long-term relationship with its clients. For more information, please visit: www.univest.us.
About Qualigen Therapeutics, Inc.
Qualigen Therapeutics, Inc., is a life science company focused on developing platform treatments for adult and pediatric cancers, with the potential for orphan drug designations. For more information, visit www.qlgntx.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. Univest Securities LLC and the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For additional inquiries, please contact:
Univest Securities, LLC
Edric Guo
Chief Executive Officer
75 Rockefeller Plaza, Suite 18C
New York, NY 10019
Phone: (212) 343-8888
Email: [email protected]
