Intelligent Bio Solutions Inc. announced a private placement priced at-the-market under Nasdaq rules.
The private placement involves issuing shares of common stock and warrants, expecting gross proceeds of approximately $10.0 million.
The net proceeds will be used for working capital and general corporate purposes.
Private placements are a common way for companies to raise capital by selling shares directly to investors without the need for a public offering.
Private Placement Details
The private placement includes 2,298,850 shares of common stock, Series K-1 warrants, and Series K-2 warrants priced at $4.35 per share, aiming to raise $10.0 million.
Placement Agent
Ladenburg Thalmann & Co. Inc. has been appointed as the exclusive placement agent for facilitating the private placement process.
Closing Date
The private placement is anticipated to close around January 2, 2026, contingent upon meeting customary closing conditions.
- The private placement infuses a substantial amount of capital into Intelligent Bio Solutions Inc., enhancing its financial flexibility and potential for growth.
- By allocating the funds towards working capital, the company signals a strategic focus on bolstering operational stability and supporting future expansion initiatives.
Intelligent Bio Solutions Inc.'s private placement represents a strategic move to secure funding essential for sustaining operations and driving growth in its business.