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Posted On: 03/16/2020 5:05:19 PM
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NetworkNewsBreaks – Predictive Oncology Inc. (NASDAQ: POAI) Enters Securities Purchase Agreement to Raise $3.5M through Private Placement
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, this morning announced its entrance into a securities purchase agreement with certain accredited investors to raise $3.5 million through the issuance of up to 1,650,165 shares of common stock or common stock equivalents and accompanying warrants to purchase a total of up to 3,300,330 shares of common stock at a price of $2.121 each. The warrants will be exercisable immediately at an exercise price of $1.88 each, with one-half of the warrants to expire two years after the date of issuance, and the remaining half to expire five and one-half years after the date of issuance. The closing of the private placement is subject to the satisfaction of customary closing conditions in accordance with the securities purchase agreement. Predictive Oncology plans to use the net proceeds for general corporate purposes. Per an agreement with the investors, Predictive Oncology is required to file an initial registration statement with the Securities and Exchange Commission (“SEC”) covering the resale of the shares to be issued to the investors no later than thirty days after the closing and to have the registration statement declared effective no later than 90 days after today in the event of a “full review” by the SEC.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, this morning announced its entrance into a securities purchase agreement with certain accredited investors to raise $3.5 million through the issuance of up to 1,650,165 shares of common stock or common stock equivalents and accompanying warrants to purchase a total of up to 3,300,330 shares of common stock at a price of $2.121 each. The warrants will be exercisable immediately at an exercise price of $1.88 each, with one-half of the warrants to expire two years after the date of issuance, and the remaining half to expire five and one-half years after the date of issuance. The closing of the private placement is subject to the satisfaction of customary closing conditions in accordance with the securities purchase agreement. Predictive Oncology plans to use the net proceeds for general corporate purposes. Per an agreement with the investors, Predictive Oncology is required to file an initial registration statement with the Securities and Exchange Commission (“SEC”) covering the resale of the shares to be issued to the investors no later than thirty days after the closing and to have the registration statement declared effective no later than 90 days after today in the event of a “full review” by the SEC.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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