Applied DNA Prices $12M Public Stock, Warrant Offering

Original from: Genomeweb

Applied DNA Sciences on Thursday priced a planned $12 million public offering of stock and warrants.

Through the offering, the Stony Brook, New York-based company will offer 3 million shares of its common stock, along with Series A and B warrants to purchase up to 6 million shares of common stock, at $4 per share and associated warrants. Both classes of warrants will be immediately exercisable at $4 apiece.

The offering is expected to close on or around Aug. 8.

Applied DNA, which earlier this year closed a roughly $4.2 million registered direct stock offering, said it will use the proceeds of the public offering to further the development of its therapeutic DNA production and molecular diagnostic testing services, as well as for general corporate purposes.