© Reuters.
NEW YORK – Intelligent Bio Solutions Inc. (NASDAQ:INBS), a medical technology company specializing in rapid, non-invasive testing, has completed a private placement, securing approximately $10.1 million in funding. The transaction included the sale of over 2.2 million shares of common stock or pre-funded warrants, and equal numbers of Series H-1 and Series H-2 warrants, with each share and associated warrants priced at $4.55.
The newly acquired funds are earmarked for general corporate purposes, which include advancing clinical trials for the company’s Intelligent Fingerprinting Drug Screening System and market expansion efforts. The Series H-1 and Series H-2 warrants, exercisable at $4.55 per share, have different terms of exercise. The former are valid for eighteen months post-effectiveness of a registration statement by the SEC, while the latter have a…
