Intelligent Bio Solutions Inc. Raises $10 Million Through Private Placement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Newsfilter
- Financing Agreement Reached: Intelligent Bio Solutions Inc. has signed a securities purchase agreement with two healthcare-focused institutional investors to issue 2,298,850 shares at $4.35 each, aiming to raise approximately $10 million, which will enhance the company's liquidity to support operations.
- Warrant Issuance: The transaction includes Series K-1 and K-2 warrants allowing investors to purchase the same number of shares at an exercise price of $4.10, which not only increases investor engagement but also enhances potential returns.
- Registration Statement Commitment: The company has committed to filing a registration statement with the SEC within 10 days of the agreement to facilitate the trading of warrants, which will help improve market liquidity and attractiveness of the company's stock.
- Clear Use of Funds: The raised funds will be allocated for general working capital and corporate purposes, demonstrating the company's confidence in future growth and strategic planning.
Analyst Views on INBS
About INBS
Intelligent Bio Solutions Inc. is a medical technology company focused on developing and delivering intelligent, rapid, non-invasive testing and screening solutions. Its segment includes Commercially available Intelligent Fingerprinting Products and Development Stage Biosensor Platform Technology. Its product portfolio includes Intelligent Fingerprinting Platform that analyzes fingerprint sweat using a one-time cartridge and portable handheld reader, and a two-part system that consists of non-invasive, fingerprint sweat-based diagnostic testing products designed to detect drugs of abuse including opiates, cocaine, methamphetamines, benzodiazepines, cannabis, methadone, and buprenorphine. The Biosensor Platform is designed to detect multiple biological analytes by substituting the top enzyme layer of the biosensor to suit each analyte and to develop a range of Point of Care Tests, including the modalities of clinical chemistry, immunology, tumor markers, allergens, and endocrinology.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
