Business
Aethlon Medical Announces $3.77 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
SAN DIEGO, Jan. 17, 2020 /PRNewswire/ -- Aethlon Medical, Inc. (Nasdaq:AEMD) (the "Company"), a medical device technology company focused on developing
About this update from Aethlon Medical, Inc.
[{"type":"text","content":"SAN DIEGO, Jan. 17, 2020 /PRNewswire/ -- Aethlon Medical, Inc. (Nasdaq:AEMD) (the \"Company\"), a medical device technology company focused on developing products to diagnose and treat life and organ threatening diseases, today announced that it has entered into definitive agreements with certain institutional investors for the purchase in a 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 has agreed to issue to the investors 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, will be exercisable immediately and will expire five and one-half years from the issuance date.\nThe closing of the offering is expected to occur on or about January 22, 2020, subject to the satisfaction of customary closing conditions.\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nThe gross proceeds to Aethlon, before deducting placement agent fees and other offering expenses, are expected to be approximately $3.77 million. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes.\nThe shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being 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 is being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying base prospectus may be obtained, when available, 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)...