Business
Ainos Announces Closing of $3.3 Million Public Offering, Uplisting to NASDAQ, and Reverse Stock Split
SAN DIEGO, CA / ACCESSWIRE / August 11, 2022 / Ainos, Inc. (NASDAQ:AIMD, AIMDW) ("Ainos", or the "Company"), a diversified medtech company focused on the
About this update from Ainos, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / August 11, 2022 / Ainos, Inc. (NASDAQ:AIMD, AIMDW) (\"Ainos\", or the \"Company\"), a diversified medtech company focused on the development of novel point-of-care testing, low-dose interferon therapeutics, and synthetic RNA-driven preventative medicine, today announced the closing of its previously announced underwritten public offering of 780,000 units at a public offering price of $4.25 per unit. Each unit issued in the offering consisted of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $4.25. The common stock and warrants were immediately separable and were issued separately. The common stock and warrants began trading on the Nasdaq Capital Market on August 9, 2022, under the symbols \"AIMD\" and \"AIMDW,\" respectively. Ainos received gross proceeds of approximately $3.3 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In connection with the offering, the Company effectuated a reverse split of its issued and outstanding common stock at a ratio of 1-for-15. The reverse stock split became effective at 8 p.m., Eastern Time, on August 8, 2022. The share numbers and pricing information in this release are adjusted to reflect the impact of the reverse stock split.Ainos has granted the underwriters a 45-day option to purchase up to an additional 117,000 shares of common stock and/or up to an additional 117,000 warrants at the public offering price to cover over-allotments. The underwriters have partially exercised its option to purchase an additional 117,000 warrants.Maxim Group LLC acted as sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC acted as co-manager for the offering.The offering was conducted pursuant to the Company's registration statement on Form S-1 (Registration No. 333-264527) that was previously filed with Securities and Exchange Commission (\"SEC\"), and declared effective on August 8, 2022. A final prospectus relating to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.This press release shall not ...