NEW YORK, Feb. 23, 2021 /PRNewswire/ -- AIkido Pharma
Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced
that the underwriter of its previously announced bought deal
offering of common stock has partially exercised its option to
purchase an additional 7,030,927 shares of common stock at a price
to the public of $1.60 per share.
After giving effect to the exercise of option to purchase
additional shares, the total number of shares sold by AIkido in the
bought deal offering increased to 53,905,927 shares and gross
proceeds increased to approximately $86.2
million, before deducting underwriting discounts and
commissions and other offering expenses.
H.C. Wainwright & Co. acted as the sole book-running manager
for the offering.
The Company intends to use the net proceeds from this offering
for working capital and general corporate purposes.
The shares of common stock described above were offered 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 has been filed with the SEC and is available on the SEC's
website at http://www.sec.gov. Electronic copies of the final
prospectus relating to this offering 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.
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.