Intelligent Bio Solutions Inc. (INBS), a New York-based medical technology firm, disclosed on Thursday the pricing details of its previously announced underwritten public offering. The company is offering 1,304,348 shares of common stock at $2.00 per share, aiming to generate approximately $2.6 million in gross proceeds before deducting underwriting discounts, commissions, and associated expenses.
Ladenburg Thalmann & Co. Inc. is serving as the exclusive bookrunning manager for the offering.
The Company will be selling all shares of common stock in the offering. Additionally, it has provided the underwriter with a 45-day option to acquire up to 195,652 extra shares at the public offering price, minus underwriting discounts and commissions. The offering is anticipated to close around February 21, 2025, pending standard closing conditions.
The Company will use the net proceeds for working capital and general corporate purposes. The offering is conducted under a shelf registration statement filed with the SEC on April 8, 2022, and effective as of April 20, 2022. A preliminary prospectus supplement is available on www.sec.gov, with a final version to follow. Once available, copies can be requested from Ladenburg Thalmann & Co. Inc. at prospectus@ladenburg.com or their New York office.
INBS is currently trading at $2.0997 or 20.4659% lower on the Nasdaq Capital Market.
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