INBS raises $10.1M via private placement of common stock and warrants

INTELLIGENT BIO SOLUTIONS INC.

Gross proceeds of ~$10.1M from sale of shares, pre-funded warrants, Series H-1 and H-2 warrants at $4.55/unit.
Offering includes 2,223,333 shares, with warrants exercisable at $4.55; H-1 term 18 months post-SEC registration, H-2 five years reduced to 20 days after 510k clearance.
Proceeds to fund working capital, clinical trials for Intelligent Fingerprinting Drug Screening System, and market expansion.
Ladenburg Thalmann acted as exclusive placement agent; fees include 8% cash fee plus placement agent warrants at 125% of offering price.
Registration rights agreement: file resale registration statement by March 18, 2024, effective by April 22, 2024.

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

INTELLIGENT BIO SOLUTIONS INC. entered into Securities Purchase Agreement with several institutional and accredited investors (effective 2024-03-08).

Action: entry
Agreement: equity purchase
Counterparty: several institutional and accredited investors
Effective: 2024-03-08

Exact text from the filing

On March 8, 2024, Intelligent Bio Solutions Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with several institutional and accredited investors

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INTELLIGENT BIO SOLUTIONS INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-009743

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