Business
Aethlon Medical Announces Pricing of $5 Million Public Offering
SAN DIEGO, Dec. 13, 2019 /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, Dec. 13, 2019 /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 the pricing of an underwritten public offering of 3,333,334 shares of common stock (which includes pre-funded warrants to purchase shares of common stock in lieu thereof), and common warrants to purchase up to an aggregate of 3,333,334 shares of common stock at a public offering price of $1.50 per share. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold together with a common warrant to purchase one share of common stock. The common warrants have an exercise price of $1.50 per share, are immediately exercisable, and will expire five years from the date of issuance. The Company has granted the underwriter a 45-day option to purchase up to an additional 499,999 shares of common stock and/or common warrants to purchase up to 499,999 shares of common stock, at the public offering price, less underwriting discounts and commission.\nH.C. Wainwright & Co. is acting as the sole book-running manager for the offering.\nThe gross proceeds of the offering are expected to be approximately $5 million, prior to deducting underwriting discounts and commissions and estimated offering expenses and excluding the exercise of any common warrants and the underwriter's option to purchase additional securities. The Company intends to use approximately $700,000 of the net proceeds from this offering for the currently planned clinical trials for the Hemopurifier® over the next 12 months, with the remainder for working capital and other general corporate purposes. This offering is expected to close on or about December 17, 2019, subject to customary closing conditions.\nA registration statement on Form S-1 (File No. 333-234712) relating to these securities (and the shares of common stock underlying the common warrants and pre-funded warrants) was declared effective by the U.S. Securities and Exchange Commission (the \"SEC\") on December 12, 2019. This offering is being made only by means of a prospectus forming part of the effective registration statement. A final prospectus relating to and describing the terms of the offering will be filed with the SEC and, when available, may be obtain...