SAN DIEGO, June 10, 2021 /PRNewswire/ -- Aethlon
Medical, Inc. (Nasdaq:AEMD), a medical device technology
company focused on unmet needs in global health, today
announced that it has entered into a definitive agreement with a
single institutional investor for the purchase in a registered
direct offering of 1,380,555 shares of its common stock, at a
purchase price per share of $9.00, priced at-the-market under
Nasdaq rules.
The closing of the offering is expected to occur on or
about June 14, 2021, subject to the satisfaction of customary
closing conditions.
Maxim Group LLC is acting as the exclusive placement agent for
the offering.
The gross proceeds to Aethlon, before deducting placement agent
fees and other offering expenses, are expected to be
approximately $12.425 million. Aethlon intends to use the net
proceeds from this offering for working capital and other general
corporate purposes.
The shares of common stock are being offered by Aethlon pursuant
to a "shelf" registration statement on Form S-3 that was originally
filed on March 19, 2020 and declared effective by the
Securities and Exchange Commission ("SEC") on March 30, 2020
and the base prospectus contained therein (File No. 333-237269).
The offering of the shares of common stock is being made only by
means of a prospectus supplement that forms a part of the
registration statement. A final prospectus supplement and
accompanying base prospectus relating to the shares of common stock
being offered will be filed with the SEC. Electronic copies of the
final prospectus supplement and accompanying base prospectus may be
obtained, when available, on the SEC's website
at http://www.sec.gov or by contacting Maxim Group LLC,
405 Lexington Avenue, New York, NY
10174, Attention: Syndicate Department, or via email at
syndicate@maximgrp.com or telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
Company Update
Aethlon also announced that on June 9,
2021 it sold 626,000 shares in the open market under its At
the Market Offering Agreement with H.C. Wainwright & Co., LLC,
pursuant to the Company's shelf registration statement on Form S-3
(Registration Statement No. 333-237269), as previously filed with
the Securities and Exchange Commission and declared effective on
March 30, 2020. Additionally,
pursuant to the exercise of outstanding warrants on June 9, 2021, Aethlon will issue approximately
1.12 million shares of common stock to the warrant
holders.
About Aethlon and the Hemopurifier®
Aethlon is focused on addressing unmet needs in global health.
The Aethlon Hemopurifier is a clinical-stage immunotherapeutic
device designed to combat cancer and life-threatening viral
infections. In cancer, the Hemopurifier is designed to deplete the
presence of circulating tumor-derived exosomes that promote immune
suppression.
The Hemopurifier® is an FDA designated "Breakthrough Device"
related to the treatment of individuals with advanced or metastatic
cancer who are either unresponsive to or intolerant of standard of
care therapy, and with cancer types in which exosomes have been
shown to participate in the development or severity of the disease.
Under an Investigational Device Exemption (IDE) application, in
October 2019, the FDA approved an
Early Feasibility Study (EFS), which is the device equivalent of a
Phase 1 clinical trial for a drug or biologic, in a single center,
open label trial in 10 to 12 subjects. The study is evaluating the
HEMOPURIFIER® for reducing cancer-associated exosomes prior to the
administration of standard-of-care pembrolizumab (KEYTRUDA®), which
is a first-line therapy for patients with recurrent and/or
metastatic squamous cell carcinoma of the head and neck. The EFS is
being conducted at the University of
Pittsburgh Medical Center Hillman Cancer Center.
The Hemopurifier also holds a Breakthrough Device designation
related to life-threatening viruses that are not addressed with
approved therapies. In June 2020, the
FDA approved an amendment to Aethlon's existing open IDE for the
Hemopurifier in life threatening viral infections, to allow for the
treatment of patients with SARS-CoV-2/COVID-19 infection. This will
allow for up to 40 of these patients to be treated under a new
Early Feasibility Study protocol at up to 20 clinical sites in
the United States.
Aethlon also owns 80% of Exosome Sciences, Inc., which is
focused on the discovery of exosomal biomarkers to diagnose and
monitor cancer and neurological disease progression.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that involve risks and uncertainties. Statements
containing words such as "may," "believe," "anticipate," "expect,"
"intend," "plan," "project," "will," "projections," "estimate,"
"potentially" or similar expressions constitute forward-looking
statements. Such forward-looking statements are subject to
significant risks and uncertainties and actual results may differ
materially from the results anticipated in the forward-looking
statements. These forward-looking statements are based upon
Aethlon's current expectations and involve assumptions that may
never materialize or may prove to be incorrect. Among the
factors that could cause actual results to differ materially from
those indicated in the forward-looking statements are risks and
uncertainties associated with market conditions, the satisfaction
of customary closing conditions related to the offering and use of
proceeds, as well as risks and uncertainties associated
with Aethlon's business and financial condition in general,
including the risks and uncertainties described in Aethlon's
Quarterly Report on Form 10-Q for the quarterly period
ended December 31, 2020, and in Aethlon's other filings
with the SEC. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. All forward-looking statements are qualified
in their entirety by this cautionary statement, and Aethlon
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by law.
Contacts
Jim Frakes, CFO
jfrakes@aethlonmedical.com
858-459-7800 extension 3300
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SOURCE Aethlon Medical, Inc.