NEW YORK, Feb. 16, 2021 /PRNewswire/ -- AIkido Pharma
Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced
that it has entered into an underwriting agreement with H.C.
Wainwright & Co. under which the underwriter has agreed to
purchase on a firm commitment basis 6,250,000 shares of common
stock of the Company at a price to the public of $1.60 per share, less underwriting discounts and
commissions. The closing of the offering is expected to occur on or
about February 19, 2021, subject to
satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running
manager for the offering.
The Company also has granted to the underwriter a 30-day option
to purchase up to an additional 937,500 shares of common stock
at the public offering price, less underwriting discounts and
commission.
The Company intends to use the net proceeds from this offering
for working capital and general corporate purposes.
The offering is being conducted pursuant to the registration
statement on Form S-3 (File No. 333-238172), as amended, previously
filed with and subsequently declared effective by the Securities
and Exchange Commission ("SEC") on June 18,
2020. A final prospectus relating to the offering will be
filed with the SEC and will be available on the SEC's website at
http://www.sec.gov. Electronic copies of the final prospectus
relating to this offering, when available, may be obtained by
contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd
Floor, New York, New York 10022,
by email at placements@hcwco.com or by telephone at 646-975-6996.
Before investing in this offering, interested parties should read
in their entirety the registration statement that the Company has
filed with the SEC, which provides additional information about the
Company and this offering.
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.
About AIkido Pharma Inc.
AIkido Pharma Inc. 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. The Company is also developing a broad-spectrum
antiviral platform that may potentially inhibit replication of
multiple viruses including Influenza virus, SARS-CoV (coronavirus),
MERS-CoV, Ebolavirus and Marburg virus.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. While the Company
believes these forward-looking statements are reasonable, undue
reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. These forward-looking statements are based
upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set
forth in the Company's filings with the SEC, not limited to Risk
Factors relating to its business contained therein. Thus, actual
results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
Contact:
Investor Relations:
Hayden IR
Brett
Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
AIkido Pharma Inc.:
Phone: 212-745-1373
Email: investorrelations@aikidopharma.com
www.aikidopharma.com
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SOURCE AIkido Pharma Inc.