8-K: Cingulate Inc. Reports 2.18 Million Shares Outstanding Following Recent Sales
Current Report
Cingulate Inc. announces that it has 2,179,755 shares of common stock outstanding as of August 28, 2024, following recent sales under its At The Market Offering Agreement and purchase agreement.
Summary
- Cingulate Inc. reported that as of August 28, 2024, it has 2,179,755 shares of common stock outstanding.
- These shares were issued as a result of recent sales under the company's At The Market Offering Agreement dated January 3, 2023, and its purchase agreement with Lincoln Park Capital Fund, LLC, dated April 24, 2023.
- The company has stated that it is not obligated to update this information in the future.
Sentiment
Score: 6
Explanation: The document is a factual report of shares outstanding, which is neutral in sentiment. The capital raising is expected and does not indicate any positive or negative sentiment.
Future Outlook
The company has no obligation to update the information regarding the number of shares outstanding.
Management Comments
- The company undertakes no obligation to update the information included under this Item 8.01.
Industry Context
This announcement is a standard disclosure for publicly traded companies regarding changes in their share structure. It is common for companies to use At The Market offerings and purchase agreements to raise capital.
Comparison to Industry Standards
- The use of At The Market offerings and purchase agreements is a common practice for companies, particularly those in the biotechnology or pharmaceutical sectors, to raise capital.
- Many companies, such as those listed on the Nasdaq Capital Market, utilize similar mechanisms to fund operations and research.
- The specific number of shares issued is unique to Cingulate Inc. and its financial needs, but the method of raising capital is consistent with industry norms.
Stakeholder Impact
- The increase in shares outstanding may dilute existing shareholders' ownership.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Date of the At The Market Offering Agreement. |
| 2023-04-24 | Date of the purchase agreement with Lincoln Park Capital Fund, LLC. |
| 2024-08-28 | Date of the reported share count. |
| 2024-08-29 | Date the report was signed. |
Keywords
common stock, shares outstanding, at the market offering, capital raising, Cingulate Inc., Lincoln Park Capital Fund
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