Business
Aethlon Medical Announces Completion of $3.77 Million Registered Direct Offering
SAN DIEGO, Jan. 22, 2020 /PRNewswire/ -- Aethlon Medical, Inc. (Nasdaq:AEMD) ("Aethlon" or the "Company"), a medical device technology company focused on
About this update from Aethlon Medical, Inc.
[{"type":"text","content":"SAN DIEGO, Jan. 22, 2020 /PRNewswire/ -- Aethlon Medical, Inc. (Nasdaq:AEMD) (\"Aethlon\" or the \"Company\"), a medical device technology company focused on developing products to diagnose and treat life and organ threatening diseases, today announced the completion of its previously announced registered direct offering of 1,885,378 shares of its common stock, at a purchase price per share of $2.00, priced at-the-market under Nasdaq rules. Additionally, Aethlon issued to the purchasers unregistered warrants to purchase up to 942,689 shares of common stock. The warrants have an exercise price of $2.75 per share of common stock, are exercisable immediately and will expire five and one-half years from the issuance date.\nH.C. Wainwright & Co. acted as the exclusive placement agent for the offering.\nThe gross proceeds to Aethlon, before deducting placement agent fees and other offering expenses, are approximately $3.77 million. \nThe shares of common stock (but not the warrants or the shares of common stock underlying the warrants) were offered by Aethlon pursuant to a \"shelf\" registration statement on Form S-3 that was originally filed on May 10, 2019 and declared effective by the Securities and Exchange Commission (\"SEC\") on August 1, 2019 and the base prospectus contained therein (File No. 333-231397). The offering of the shares of common stock was made by means of a prospectus supplement that forms part of the registration statement. A final prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered were filed with the SEC. Electronic copies of the final prospectus supplement and accompanying base prospectus may be obtained on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected].\nThe warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the \"Act\"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an e...