Intelligent Bio Solutions closes $4.38M public offering, net proceeds ~$3.35M

INTELLIGENT BIO SOLUTIONS INC.

Gross proceeds of $4.378M from offering of 2.23M common shares, 5.73M Series E preferred, and warrants to purchase up to 7.96M shares.
Net proceeds of approximately $3.35M after underwriting discounts and expenses, for general corporate purposes and working capital.
Series E Preferred Stock is convertible 1:1 into common stock, no dividend rights except as paid on common, limited voting rights.
CFO Spiro Sakiris purchased 112,727 Class A Units and director Christopher Towers purchased 9,090 Class A Units on same terms.
Underwriter's overallotment option partially exercised; warrants exercisable only after Nasdaq shareholder approval.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

INTELLIGENT BIO SOLUTIONS INC.: Filed Certificate of Designation for Series E Convertible Preferred Stock, designating 5,728,723 shares of Series E Preferred Stock, with no voting rights, convertible into common stock, and no dividends unless declared by the board (effective 2023-10-03).

Change: charter amendment
Effective: 2023-10-03

Exact text from the filing

In connection with the Public Offering, the Company filed the Certificate of Designation of Preferences, Rights and Limitations of the Series E Convertible Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Delaware on October 3, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

INTELLIGENT BIO SOLUTIONS INC. entered into Underwriting Agreement with Ladenburg Thalmann & Co. Inc. (effective 2023-10-02).

Action: entry
Agreement: underwriting
Counterparty: Ladenburg Thalmann & Co. Inc.
Effective: 2023-10-02

Exact text from the filing

On October 2, 2023, Intelligent Bio Solutions Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Ladenburg Thalmann & Co. Inc., as representative (the “Representative”) of the underwriters named in Schedule I thereto (collectively, the “Underwriters”), pursuant to which the Company agreed to issue and sell, in a registered public offering by the Company (the “Public Offering”): (a) 1,544,004 Class A Units

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INTELLIGENT BIO SOLUTIONS INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-035706

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