Lucosky Brookman Represents Qualigen Therapeutics in $41.7 Million PIPE Financing
Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company focused on developing treatments for rare cancers and other diseases, has successfully closed a $41.7 million all-cash private placement. The financing was led by Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) and its Founder and Global Co-CEO, YT Jia.
As part of the transaction, Jeremy Wang, President of Faraday Future, will be appointed Co-CEO of Qualigen. YT Jia will join the company as Chief Advisor, and Koti Meka, currently CFO of Faraday Future, will assume the role of Qualigen’s CFO. Upon closing, Faraday Future and YT Jia are expected to beneficially own more than 62% of the company’s outstanding common stock.
Univest Securities, LLC acted as sole placement agent for the transaction. Lucosky Brookman LLP served as legal counsel to Qualigen Therapeutics.
This financing represents a significant milestone for Qualigen, providing strategic capital to support its growth and operational initiatives while reflecting strong investor confidence in the company’s leadership and long-term strategy.