Phio Pharmaceuticals Corp (PHIO)

[Inoviorulez]

The $20 million dollars in dilution and warrants sounds bad but read all the way through. Well I won't make you read it all but check out page 62 of the S-1 filing under "plan of distribution"

Then read this quote here:

"We will enter into securities purchase agreements directly with certain institutional investors which will purchase not less than $ of securities in this offering. We will not enter into any securities purchase agreement with investors which will purchase less than $ of securities in this offering and such investors which purchase less than $ shall rely solely on this prospectus in connection with the purchase of securities in this offering. The Placement Agent may retain one or more sub-agents or selected dealers in connection with the offering."

RXII is actually selling directly the shares to institutional investors. That's a good thing!