Applied DNA Sciences raises ~$3.44M in registered direct offering at $0.609/share

BNB PLUS CORP.

Gross proceeds expected $3.44M from 5,644,061 shares (or prefunded warrants) at $0.609 each.
Concurrent private placement: warrants for 11,288,122 shares at $0.609, exercisable upon stockholder approval, 5-year term.
Exercise price of 3,113,213 existing outstanding warrants reduced to $0.609 and expiration extended to 2028, subject to shareholder approval.
Net proceeds for therapeutic DNA production development and general corporate purposes; closing expected Feb 2, 2024.
Placement agent Maxim Group LLC; lock-up on insiders for 60 days post-closing.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BNB PLUS CORP. entered into Purchase Agreements with certain institutional investors (effective 2024-01-31).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Effective: 2024-01-31

Exact text from the filing

Also on January 31, 2024, in connection with the Offering, the Company entered into securities purchase agreements (the “Purchase Agreements”) with certain institutional investors (each, a “Purchaser” and, collectively, the “Purchasers”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BNB PLUS CORP. entered into Placement Agreement with Maxim Group LLC (effective 2024-01-31).

Action: entry
Agreement: equity purchase
Counterparty: Maxim Group LLC
Effective: 2024-01-31

Exact text from the filing

On January 31, 2024, Applied DNA Sciences, Inc. (“Company”) entered into a placement agency agreement (the “Placement Agreement”) with Maxim Group LLC (the “Placement Agent”)

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BNB PLUS CORP. filing history →

Source: SEC EDGAR

accession 0001104659-24-008937

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