PONTE VEDRA – – October 27, 2026 -- Cadrenal Therapeutics (Nasdaq: CVKD) has agreed to raise $3 million in gross proceeds from a single healthcare-focused institutional investor. Warrants could bring in about $5.8 million more if exercised in full for cash.
Cadrenal prices 960,000 shares at $3.125 with two warrant series attached
The private placement covers 960,000 common shares, or pre-funded warrants in lieu, at a combined price of $3.125 per share with accompanying warrants. The deal is priced at-the-market under Nasdaq rules. Each unit carries series C-1 and series C-2 warrants, each series covering up to 960,000 shares at a $3.00 exercise price. H.C. Wainwright & Co. is exclusive placement agent. Closing is expected on or about July 1, 2026, subject to customary conditions.
C-2 warrants are exercisable immediately; C-1 warrants await stockholder approval
The C-1 warrants become exercisable only after stockholders approve the issuance of the underlying shares. They expire five years after the later of that approval date and the effective date of a resale registration statement. The C-2 warrants are exercisable on issuance and expire 24 months after the effective date of a resale registration statement. Cadrenal said there is no assurance that any warrants will be exercised for cash.
Net proceeds extend cash runway into Q1 2027, or H2 2027 with full warrant exercise
The company plans to use net proceeds for working capital. It expects the raise to fund operations into the first quarter of 2027. Full cash exercise of the warrants would push that runway into the second half of 2027.
Cadrenal links the extended runway to partnering efforts for two assets. These are tecarfarin in Kawasaki Disease, where it is pursuing a potential rare pediatric disease designation, and CAD-1005 in cardiac surgery-associated acute kidney injury (CSA-AKI) and heparin-induced thrombocytopenia (HIT).
Securities are unregistered, with resale registration promised to the investor
The securities were sold under Section 4(a)(2) of the Securities Act of 1933 and Regulation D and are not registered. Under a registration rights agreement, Cadrenal will file one or more SEC registration statements covering their resale.
CAD-1005 holds Orphan Drug and Fast Track designations from the U.S. FDA and orphan drug status from the European Medicines Agency.