other material
confidence high
sentiment neutral
materiality 0.80
Applied DNA Sciences prices $6.5M registered direct and private placement
BNB PLUS CORP.
- Gross proceeds ~$6.5M from sale of 20.3M shares (or pre-funded warrants) at $0.32 per share.
- Issues Series C and D warrants to purchase 20.3M shares each, both exercisable at $0.32 after stockholder approval.
- Series D exercise price resets to lower of $0.32 or lowest VWAP around a future reverse split, floor $0.0634.
- Amends existing Series A warrants to set floor price at $0.20 for price protection provisions.
- Net proceeds for therapeutic DNA production services development and general corporate purposes.