MyMD Pharmaceuticals, Inc announced it has entered into a Securities Purchase Agreement of Series G Convertible Preferred Stock, Series G Convertible Preferred stock, short-term warrants and warrants for total proceeds of $14,000,000 on May 20, 2024. The transaction includes participation from new investor, led by PharmaCyte Biotech, Inc. The company will issue 8,950 shares of the Company?s newly-designated Series G Convertible Preferred Stock and a stated value of $1,000 per share for gross proceeds $8,950,000, short-term warrants to acquire up to an aggregate of 4,928,416 shares of Common Stock,at an exercise price of $1.816 per share, warrants to acquire up to an aggregate of 4,928,416 shares of Common Stock at an exercise price of $1.816 per share and 5,050 shares of the Company?s newly-designated Series F-1 Convertible Preferred Stock, with a par value of $0.001 per share and a stated value of $1,000 per share for gross proceeds $5,050,000, initially convertible into up to 2,780,837 shares of Common Stock at a conversion price of $1.816 per share, short-term warrants to acquire up to an aggregate of 1,183,921 shares of Common Stock at an exercise price of $1.816 per share, and warrants to acquire up to an aggregate of 1,183,921 shares of Common Stock at an exercise price of $1.816 per share. The dividend rate of preferred stock is 10%.

The Private Placements are exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws. The closing of each Private Placement is expected to occur on or around May 22, 2024.