LAS VEGAS, Jan. 29, 2021 /PRNewswire/ -- JanOne
Inc. (NASDAQ: JAN), a company focused on developing
treatments for conditions that cause severe pain and drugs with
non-addictive, pain-relieving properties, today announced it has
entered into a securities purchase agreement with institutional
investors for the purchase and sale of 571,428 shares of its common
stock at a price of $10.50 per share,
pursuant to a registered direct offering. The gross proceeds of the
offering are expected to be $6.0
million before deducting fees and other estimated offering
expenses. The closing of the registered direct offering is expected
to take place on or about February 2,
2021, subject to the satisfaction of customary closing
conditions.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the offering.
This offering was made pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-251645)
previously filed with and declared effective by the U.S. Securities
and Exchange Commission (the "SEC"). 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. A prospectus
supplement relating to the shares of common stock will be filed by
JanOne with the SEC. When available, copies of the prospectus
supplement, together with the accompanying prospectus, can be
obtained at the SEC's website at www.sec.gov or from
A.G.P./Alliance Global Partners, 590 Madison Avenue,
28th Floor, New York, New
York 10022 or by email at
prospectus@allianceg.com.
About JanOne
JanOne (NASDAQ: JAN) is focused on developing treatments for
diseases that cause severe pain. By alleviating pain at the source,
JanOne aims to reduce the need for opioid prescriptions to treat
disease associated pain that can lead to opioid abuse. The company
is also exploring solutions for non-addictive pain medications. Its
lead candidate JAN101 is for treating peripheral artery disease
(PAD), a condition that affects over 8.5 million Americans. JAN101
demonstrated positive results in a Phase 2a clinical trial, and
Phase 2b trials are expected to begin
in early 2021. JanOne is dedicated to funding resources toward
innovation, technology, and education for PAD, associated vascular
conditions and neuropathic pain. JanOne continues to operate its
legacy businesses under their current brand names, which are
undergoing review to determine appropriate strategic
alternatives. For more information,
visit janone.com.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. In accordance with the safe harbor provisions of this Act,
statements contained herein that look forward in time that include
everything other than historical information, including statements
relating to if the registered direct offering will close. These
forward-looking statements can be identified by terminology such as
"will," "aims," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. JanOne may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission
(the "SEC") on Forms 10-K and 10-Q, Current Reports on Form 8-K, in
its annual report to stockholders, in press releases, and other
written materials and in oral statements made by its officers,
directors or employees to third parties. There can be no assurance
that such statements will prove to be accurate and there are a
number of important factors that could cause actual results to
differ materially from those expressed in any forward-looking
statements made by the company, including, but not limited to,
plans and objectives of management for future operations or
products, the market acceptance or future success of our products,
and our future financial performance. The company cautions that
these forward-looking statements are further qualified by other
factors including, but not limited to, those set forth in the
company's Annual Report on Form 10-K for the fiscal year ended
December 28, 2019 and other SEC
filings (available at http://www.sec.gov). JanOne undertakes no
obligation to publicly update or revise any statements in this
release, whether as a result of new information, future events, or
otherwise.
Investor Relations & Media Contact
IR@Janone.com
1 (800) 400-2247
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SOURCE JanOne