On January 22, 2025 Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA), a clinical stage biopharmaceutical company that has been developing a treatment for non-alcoholic steatohepatitis ("NASH"), hepatocellular carcinoma ("HCC"), and other chronic liver diseases, reported the launch of a "best efforts" public offering of 27,692,310 shares of common stock (or pre-funded warrants in lieu thereof) with each share of common stock (or pre-funded warrant) accompanied by (i) a series A common warrant to purchase one (1) common share at an exercise price of $0.40 per share and (ii) a series B common warrant to purchase one (1) common share at an exercise price of $0.40 per share (Press release, Hepion Pharmaceuticals, JAN 22, 2025, View Source [SID1234649825]). The combined offering price of each share of common stock together with the accompanying series A and series B common warrants is $0.325, and the combined offering price of each pre-funded warrant together with the accompanying series A and series B common warrants is $0.3249. The gross proceeds of the public offering are expected to be approximately $9.0 million before deducting placement agent fees and offering expenses and are expected to be used to repay certain indebtedness and for general corporate purposes, including working capital, operating expenses and capital expenditures. The closing of the public offering is expected to occur on or about January 23, 2025, subject to the satisfaction of customary closing conditions.

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Laidlaw & Company (UK) Ltd. is acting as the sole placement agent for the offering.

This public offering is being made by the Company pursuant to a registration statement on Form S-1 (File No. 333-284052), which was declared effective by the United States Securities and Exchange Commission ("SEC") on January 21, 2025, and a related registration statement that was filed with the SEC on January 21, 2025 pursuant to Rule 462(b) under the Securities Act of 1933, as amended (and which became automatically effective upon filing). The securities may only be offered by means of a prospectus. Copies of the prospectus may be obtained, when available, at the SEC’s website at www.sec.gov or from Laidlaw & Company (UK) Ltd., 521 5th Avenue, 12th Floor, New York, NY 10175, or by telephone at (212) 953-4900, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, 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.