Cyclo Therapeutics, Inc. announced that it has entered into a securities purchase agreement with certain accredited investors to issue an aggregate of 3,023,956 shares of the Company?s common stock at an exercise price of $0.71 per share for the gross proceeds of $2,147,009 on October 20, 2023. In the offering, the Investors exercised their Original Warrants in full on or prior to the Closing Date, in consideration of receipt of new warrants with an exercise price equal to $0.95 per share, to purchase 110% of the number of shares of the Company?s common stock covered under the original warrants. The New Warrants will be exercisable for cash only and have a term of four years from the issuance date.

The offering was conducted pursuant to the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended.