Tharimmune (THAR) Announces 660K Share Offering at $3.16/sh

Tharimmune, Inc. (NASDAQ: THAR) announced today that it has entered into a securities purchase agreement for the purchase and sale of an aggregate of 659,545 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 329,771 shares of common stock at a purchase price of $3.16 per share of common stock (or per common stock equivalent in lieu thereof) and accompanying warrants in a private placement. The warrants will have an exercise price of $3.09 per share and will be exercisable beginning six months after issuance and expire five and one-half years after issuance. The closing of the offering is expected to occur on or about June 21, 2024, subject to the satisfaction of customary closing conditions.

President Street Global is acting as the exclusive placement agent for the offering.

The financing was led by SDS Capital Group along with Gravitas Capital and other biotechnology private investors.

The gross proceeds to the Company from the offering are expected to be approximately $2.08 million, before deducting the placement agent's fees and other offering expenses payable by the Company, and excluding the proceeds, if any, from the exercise of the warrants. The Company currently intends to use the net proceeds from the offering for clinical development and working capital, including in support of its TH104 development program.

The securities described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the securities described above, including the shares of common stock underlying the warrants, may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The Company has agreed to file a resale registration statement covering the securities described above.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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