Predictive Oncology Announces $21.34 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules
June 14 2021 - 9:30AM
Predictive Oncology Inc. (NASDAQ: POAI) (“Predictive Oncology” or
“the Company”), a knowledge-driven company focused on applying
artificial intelligence (“AI”) to personalized medicine and drug
discovery, today announced that it has entered into definitive
agreements with several institutional investors for the issuance
and sale of an aggregate of 15,520,911 shares of its common stock
and warrants to purchase up to an aggregate of 15,520,911
shares of its common stock at a purchase price of $1.375 per share
of common stock and related warrant in a registered direct offering
priced at-the-market under Nasdaq rules. The warrants have an
exercise price of $1.25 per share, will become exercisable upon the
Company increasing its authorized capital stock to 200 million
shares, and will expire three (3) years following the date the
warrants first become exercisable. The closing of the offering is
expected to occur on or about June 15, 2021, subject to the
satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds from the offering are expected to be
approximately $21.34 million before deducting placement agent fees
and other offering expenses. The Company currently intends to use
the net proceeds from the offering for working capital
purposes.
The securities described above are being offered and sold by the
Company in a registered direct offering pursuant to a “shelf”
registration statement on Form S-3 (Registration No. 333-255582),
including a base prospectus previously filed with the Securities
and Exchange Commission (the “SEC”) on April 28, 2021 and became
effective on May 5, 2021. The offering of such securities will be
made only by means of a prospectus supplement that forms a part of
the registration statement. A final prospectus supplement and base
prospectus relating to the registered direct 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
and the accompanying base prospectus may also be obtained by
contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd
Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at
placements@hcwco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates through three
segments (Skyline, Helomics and Soluble Biotech), which contain
four subsidiaries: Helomics, TumorGenesis, Skyline Medical and
Soluble Biotech.
Helomics applies artificial intelligence to its rich data
gathered from patient tumors to both personalize cancer therapies
for patients and drive the development of new targeted therapies in
collaborations with pharmaceutical companies. TumorGenesis Inc.
specializes in media that help cancer cells grow and retain their
DNA/RNA and proteomic signatures, providing researchers with a tool
to expand and study cancer cell types found in tumors of the blood
and organ systems of all mammals, including humans. Skyline Medical
markets its patented and FDA cleared STREAMWAY System, which
automates the collection, measurement and disposal of waste fluid,
including blood, irrigation fluid and others, within a medical
facility, through both domestic and international divisions.
Soluble Biotech is a provider of soluble and stable formulations
for proteins including vaccines, antibodies, large and small
proteins and protein complexes. For more information, please
visit www.predictive-oncology.com.
Forward-looking Statements
Certain of the matters discussed in this press release contain
forward-looking statements that involve material risks to and
uncertainties in the Company’s business that may cause actual
results to differ materially from those anticipated by the
statements made herein. Such risks and uncertainties include:
market and other conditions, the completion of the registered
direct offering, the satisfaction of customary closing conditions
related to the registered direct offering and the intended use of
net proceeds from the registered direct offering, a variety of
other risks and uncertainties including, among other things,
factors discussed under the heading “Risk Factors” in our filings
with the SEC. Except as expressly required by law, the Company
disclaims any intent or obligation to update these forward-looking
statements.
Investor Relations Contact:
Landon CapitalKeith Pinder(404)
995-6671kpinder@landoncapital.net
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