Molekule Group, Inc. Announces Closing of $10.0 Million Private Placement and Deferral

PALM BEACH GARDENS, Fla., May 08, 2023 (GLOBE NEWSWIRE) — Molekule Group, Inc. (“Molekule” or the “Company”) (Nasdaq: MKUL) reported today the closing of its previously-announced approximately $10 million private placement with a single institutional investor. The transaction consists of 3,400,000 shares of the Company’s common stock, a Series A Warrant to purchase up to 3,125,000 shares. This milestone represents a significant achievement for Molekule and demonstrates confidence in the company’s vision and growth potential.

Recent Developments

The private placement will provide Molekule with additional capital to further expand its product offerings and accelerate its growth trajectory. The company is known for its innovative air purification technology that helps improve indoor air quality. With the growing demand for clean air solutions, Molekule is well-positioned to capitalize on this market opportunity and drive continued success.

Impact on the Company

The successful closing of the private placement underscores investor confidence in Molekule’s business strategy and prospects. The additional funding will enable the company to invest in research and development, marketing initiatives, and operational expansion. Molekule is committed to delivering cutting-edge solutions that enhance people’s health and well-being through clean air.

Effect on Me

As a consumer, the closing of the private placement could translate to more advanced and efficient air purification products being introduced to the market. This means that individuals and families can enjoy improved air quality in their homes and workplaces, leading to better health outcomes and overall well-being.

Global Impact

The advancements made by Molekule in air purification technology have the potential to have a positive impact on a global scale. Clean air is essential for human health, and by providing innovative solutions, Molekule is contributing to creating a healthier environment for people around the world. This could lead to a reduction in respiratory illnesses and other health conditions caused by poor air quality.

Conclusion

The closing of the $10.0 million private placement marks a significant milestone for Molekule Group, Inc. This infusion of capital will fuel the company’s growth and innovation efforts, allowing it to continue leading the way in air purification technology. As individuals and communities strive for cleaner and healthier indoor environments, Molekule remains at the forefront of delivering impactful solutions that benefit both individuals and the world as a whole.