Business
Cosmos Health Inc. Announces Pricing of $5.25 Million Registered Direct Offering and Concurrent Private Placement
CHICAGO, IL / ACCESSWIRE / July 20, 2023 / Cosmos Health Inc. (the "Company") (NASDAQ:COSM), a global healthcare group with proprietary lines of
About this update from Cosmos Health Inc.
[{"type":"text","content":"CHICAGO, IL / ACCESSWIRE / July 20, 2023 / Cosmos Health Inc. (the \"Company\") (NASDAQ:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, today announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 2,116,936 shares of the Company's common stock (or common stock equivalents in lieu thereof) in a registered direct offering and common warrants to purchase up to 1,935,484 shares of common stock in a concurrent private placement (together with the registered direct offering, the \"offering\"). The combined purchase price for one share of common stock (or common stock equivalent) and one common warrant will be $2.48. The warrants will have an exercise price of $2.75 per share, will be exercisable immediately and will expire five years from the issuance date.The offering includes participation from Grigorios Siokas, CEO of Cosmos Health Inc. (without receiving any common warrants), as well as existing shareholders of the Company.The aggregate gross proceeds from the offering will be approximately $5.25 million before deducting fees and other estimated expenses. The Company expects to use the net proceeds from the offering for working capital and general corporate purposes. The offering is expected to close on or about July 21, 2023, subject to the satisfaction of customary closing conditions.A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.The offering of the shares of common stock (or common stock equivalents in lieu thereof) is being made pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-267550) previously filed with and declared effective by the U.S. Securities and Exchange Commission (the \"SEC\") on December 15, 2022. A prospectus supplement describing the terms of the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected] private placement of the common warrants will be made in reliance on ...