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Intelligent Bio Solutions Inc. Announces Pricing of $2.2 Million Public Offering
NEW YORK, March 08, 2023 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) (the “Company”), a life sciences company developing and delivering
About this update from Intelligent Bio Solutions Inc.
[{"type":"text","content":"NEW YORK, March 08, 2023 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) (the “Company”), a life sciences company developing and delivering intelligent, non-invasive, real-time testing solutions, today announced the pricing of its previously announced underwritten public offering of 569,560 shares of common stock and warrants to purchase up to 170,868 shares of its common stock at a combined public offering price of $3.90 per share of common stock and accompanying warrants, for initial gross proceeds of approximately $2.2 million, before underwriting discounts and commissions and offering expenses. The warrants have an exercise price of $3.90 per share, are exercisable immediately and will expire five years following the date of issuance. Ladenburg Thalmann & Co. Inc. is acting as the sole bookrunning manager for the offering. All of the securities to be sold in the offering will be sold by the Company. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 85,430 shares of its common stock and warrants to purchase up to 25,629 shares of its common stock at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about March 10, 2023, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on April 8, 2022, and declared effective by the SEC on April 20, 2022. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. A final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Ladenburg Thalmann & Co. Inc. at Attn: Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, NY 10019 or by e-mail at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such off...