Predictive Oncology Announces Closing of $17.6 Million Private Placement Priced At-the-Market

By Benzinga2 days ago

MINNEAPOLIS, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Predictive Oncology Inc. (NASDAQ:POAI) (“Predictive Oncology“ or “the Company“), a knowledge-driven company focused on applying artificial intelligence (“AI“) to personalized medicine and drug discovery, today announced the closing of its previously announced private placement of common stock and warrants priced at-the-market under Nasdaq rules, resulting in gross proceeds to the Company of $17,635,343.70. The Company sold and issued an aggregate of 9,043,766 shares of its common stock and warrants to purchase up to an aggregate of 4,521,883 shares of common stock in the private placement, at a purchase price of $1.95 per share of common stock and associated warrant. The warrants have an exercise price of $2.00 per share, are exercisable immediately and have a term of five and one-half years.

H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the offering.

The Company intends to use up to approximately $5.88 million of the net proceeds to repay certain indebtedness and the remainder of the net proceeds for general corporate purposes.

The offer and sale of the foregoing securities were made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the ...

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