Cingulate Inc. completed the second closing of a $12 million private placement on February 13, 2026, issuing equity securities and appointing Jeff Hargroves to its Board of Directors and committees. The company also issued 25,786 shares of common stock to a lender on February 6, 2026, in exchange for debt.
Key takeaways
Private Placement second closing on February 13, 2026, for $5.5 million, totaling $12.0 million aggregate gross proceeds.
Issued 25,786 shares of common stock at $6.16 per share to lender on February 6, 2026, exempt under Section 3(a)(9).
Appointed Jeff Hargroves as Class I director effective February 13, 2026, with Audit, Compensation, and Nominating Committee roles.
Jeff Hargroves to receive option for 15,000 shares, $40,000 annual Board retainer, and committee retainers.
PIPE priced at $5.04 per share (Nasdaq close January 26, 2026) with 80% warrant coverage and 180-day investor lock-up.
Falcon Creek Capital affiliates led PIPE and gained board designation rights.