NEW YORK, April 15, 2020 /PRNewswire/ -- AIkido Pharma
Inc. (Nasdaq: AIKI) ("AIkido" or the "Company"), a technology
development company committed to the fostering of innovative ideas,
announced today the closing of its previously announced registered
direct offering with several institutional and accredited investors
of 14,000,000 shares of its common stock at a purchase price of
$1.00 per share, priced at-the-market
under Nasdaq rules. The gross proceeds to the Company from the
offering totaled $14.0 million,
before deducting placement agent fees and other offering
expenses.
H.C. Wainwright & Co., LLC acted as the exclusive placement
agent for the offering.
The Company intends to use the net proceeds from the offering
for working capital and general corporate purposes.
The shares of common stock described above were offered by
AIkido pursuant to a shelf registration statement on Form S-3 (No.
333-220632), which was previously declared effective by the
Securities and Exchange Commission ("SEC"). A final prospectus
supplement and the accompanying prospectus relating to the common
shares was filed by AIkido with the SEC and can be
obtained at the SEC's website at http://www.sec.gov.
Electronic copies of the final prospectus supplement and the
accompanying prospectus relating to the registered direct offering
may also be obtained by contacting H.C. Wainwright & Co., LLC,
430 Park Avenue, New York, New
York 10022, by email at placements@hcwco.com or by phone at
(646) 975-6996.
This press release does not constitute an offer to buy nor will
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 AIkido
AIkido was initially formed in 1967 and is a biotechnology
company with a diverse portfolio of small-molecule anti-cancer
therapeutics. The Company's platform consists of patented
technology from leading universities and researchers and we are
currently in the process of developing an innovative therapeutic
drug platform through strong partnerships with world renowned
educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of
therapeutics includes therapies for pancreatic cancer, acute
myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In
addition, we are constantly seeking to grow our pipeline to treat
unmet medical needs in oncology
Forward-Looking Statements
To the extent any statements made in this news release deal with
information that is not historical, these are forward-looking
statements under the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about the Company's plans, objectives, expectations and
intentions with respect to future operations and products, the
potential of the Company's technology and product candidates, the
anticipated timing of future clinical trials, and other statements
that are not historical in nature, particularly those that utilize
terminology such as "would," "will," "plans," "possibility,"
"potential," "future," "expects," "anticipates," "believes,"
"intends," "continue," "expects," other words of similar meaning,
derivations of such words and the use of future dates.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Uncertainties and risks may
cause AIkido's actual results to be materially different than those
expressed in or implied by such forward-looking statements.
Particular uncertainties and risks include: the use of proceeds of
the offering; market and other conditions; the difficulty of
developing pharmaceutical products; obtaining regulatory and other
approvals and achieving market acceptance; general business and
economic conditions; the Company's need for and ability to obtain
additional financing or partnering arrangements; and the various
risk factors (many of which are beyond AIkido's control) as
described under the heading "Risk Factors" in the preliminary
prospectus and AIkido's filings with the United States Securities
and Exchange Commission. All forward-looking statements in this
news release speak only as of the date of this news release and are
based on management's current beliefs and expectations. AIkido
undertakes no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as required by law.
Contact:
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Investor
Relations:
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Hayden IR
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Brett Maas, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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AIkido:
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Phone:
212-745-1373
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Email:
investorrelations@AIkido.com
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www.AIkido.com
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SOURCE AIkido Pharma Inc.