Scientific Industries Expands Funding to Enhance Bioprocessing
Scientific Industries Secures New Funding for DOTS Platform
Scientific Industries, Inc. (OTCQB: SCND), a leading provider of life sciences tools, has recently announced a significant milestone in its journey of innovation. The company successfully obtained approximately $1.6 million through a private placement, aimed specifically at enhancing its SBI DOTS Platform, which focuses on real-time bioprocessing systems. This funding is also set aside for general corporate uses, highlighting the company's commitment to growth and development.
Details of the Funding Offering
The funding initiative consisted of 1,550,000 shares of Scientific Industries' common stock, each priced at $1.00. In addition, this offering included warrants that allow holders to purchase additional shares at the same exercise price within a six-month window. This strategic move will enable the company to raise capital while expanding its shareholder base.
Comments from Leadership
John Moore, the Chairman of Scientific Industries, expressed gratitude towards the company's loyal shareholders for their unwavering support. He emphasized the importance of this funding in scaling the DOTS platform, particularly with the upcoming release of their cutting-edge optical pH sensor and a high-performance liquid injection system expected later this year. By refining the DOTS system, Scientific Industries aims to set a new standard in parallel bioprocessing, paving the way for the next wave of artificial intelligence and digital biology advancements.
Role of Brookline Capital Markets
Brookline Capital Markets, a division of Arcadia Securities, played a vital role as the exclusive placement agent for this funding offering. Their expertise and commitment to supporting Scientific Industries during this endeavor underline the importance of collaboration in achieving corporate objectives.
About Scientific Industries
Scientific Industries, Inc. is not just a once-off provider; the company designs, manufactures, and markets an array of laboratory equipment tailored for a variety of applications. Among its products, the Vortex-Genie 2 Mixer and Torbal balances are globally recognized for their reliability and performance. The DOTS platform, in particular, showcases Scientific Industries’ innovation in bioprocessing systems, catering primarily to researchers in universities, hospitals, pharmaceutical companies, and more.
Scientific Bioprocessing, Inc. and its Mission
As a subsidiary of Scientific Industries, Scientific Bioprocessing, Inc. (SBI) is dedicated to transforming bioprocessing through digital innovation. With a diverse range of advanced sensors, actuators, and data analytics software, SBI enables laboratories to monitor and control essential process parameters effectively. This technology enhances product quality and ensures processes are optimized, which is increasingly crucial in today's fast-paced scientific landscape.
Looking Ahead
With the received funds, Scientific Industries looks towards the future, focusing on scaling operations and developing its product offerings further. The company’s strategy to integrate AI and digital biology signifies its vision to be at the forefront of bioprocessing innovation. By capitalizing on the demand for more structured and reliable data, Scientific Industries is set to make significant strides in the industry.
Company Contact Information
If you're interested in learning more about Scientific Industries or their offerings, you can contact:
Helena R. Santos
CEO and President
Phone: 631-567-4700
Email: hsantos@scientificindustries.com
Additional inquiries can be directed to:
Joe Dorame
Lytham Partners, LLC
Phone: (602) 889-9700
Email: SCND@lythampartners.com
Frequently Asked Questions
What is the purpose of the funding secured by Scientific Industries?
The funding aims to advance the SBI DOTS Platform and support general corporate uses to enhance operations.
How many shares were offered in the funding round?
A total of 1,550,000 shares were offered at a purchase price of $1.00 per share.
Who acted as the placement agent for the funding?
Brookline Capital Markets, a division of Arcadia Securities, served as the exclusive placement agent for the offering.
What are some key products developed by Scientific Industries?
Key products include the Vortex-Genie 2 Mixer and Torbal balances, along with the DOTS bioprocessing systems.
What is the mission of Scientific Bioprocessing, Inc.?
SBI focuses on providing innovative digital solutions to simplify bioprocessing and enhance critical process monitoring.
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