Intelligent Bio Solutions Inc. Announces Exercise Of Previously Issued Warrants For $1.77M In Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
Intelligent Bio Solutions Inc. (NASDAQ:INBS) announced the exercise of Series E Warrants issued on October 4, 2023, resulting in $1.77M in gross proceeds. The exercise involves 606,064 shares at $2.9232 each. Additionally, warrant holders will receive new Replacement Warrants for the same number of shares at $4.50 each, valid for five-and-a-half years. The funds are intended for working capital and general corporate purposes. Ladenburg Thalmann & Co. Inc. served as the placement agent.
February 05, 2024 | 2:09 pm
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POSITIVE IMPACT
Intelligent Bio Solutions Inc. successfully exercises Series E Warrants, raising $1.77M. New Replacement Warrants issued at $4.50/share for future funding.
The successful exercise of warrants and the issuance of new Replacement Warrants at a higher price indicate positive investor sentiment and a strategic move to strengthen the company's financial position. This could lead to increased investor confidence and potentially a positive impact on INBS's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100