Applied DNA Receives Approximately $3.6 Million in Net Proceeds from Warrant Exercise
August 09 2022 - 8:15AM
Business Wire
Applied DNA Sciences, Inc. (NASDAQ: APDN) (the “Company”), a
leader in polymerase chain reaction (“PCR”)-based technologies,
announced that it has received approximately $3.6 million in net
proceeds following an exercise of Series B warrants by an
institutional investor in the Company.
The Series B warrants exercised were issued in connection with a
public offering that closed on August 8, 2022. Each Series B
warrant entitles its owner to purchase one share of common stock in
the Company at a per share price of $4.00 until September 8, 2023.
2.1 million Series B warrants associated with the August 8, 2022,
offering remain outstanding. Series A warrants were also issued in
connection with the public offering that closed on August 8, 2022.
All 3.0 million Series A warrants remain outstanding until August
9, 2027.
About Applied DNA Sciences Applied DNA Sciences is a
biotechnology company developing technologies to produce and detect
deoxyribonucleic acid (“DNA”). Using PCR to enable both the
production and detection of DNA, we operate in three primary
business markets: (i) the manufacture of DNA for use in nucleic
acid-based therapeutics; (ii) the detection of DNA in molecular
diagnostics testing services; and (iii) the manufacture and
detection of DNA for industrial supply chain security services.
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The Company’s common stock is listed on NASDAQ under the ticker
symbol ‘APDN,’ and its publicly traded warrants are listed on OTC
under the ticker symbol ‘APPDW.’
Forward-Looking Statements The statements made by Applied
DNA in this press release may be “forward-looking” in nature within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements describe Applied DNA’s future plans, projections,
strategies and expectations, and are based on assumptions and
involve a number of risks and uncertainties, many of which are
beyond the control of Applied DNA. Actual results could differ
materially from those projected due to its history of net losses,
limited financial resources, limited market acceptance, our unknown
ability to penetrate key markets, and various other factors
detailed from time to time in Applied DNA’s SEC reports and
filings, including our Annual Report on Form 10-K filed on December
9, 2021, its Quarterly Report on Form 10-Q filed on February 10,
2022 and May 12, 2022, and other reports it files with the SEC,
which are available at http://www.sec.gov. Applied DNA undertakes
no obligation to update publicly any forward-looking statements to
reflect new information, events, or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, unless
otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220809005357/en/
Investor Relations Contact: Sanjay M. Hurry,
917-733-5573, sanjay.hurry@adnas.com Web: www.adnas.com
Twitter: @APDN
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