AWH - Aspira Women's Health Announces Closing of $1.9 Million Private Placement Equity Financing | Benzinga
AUSTIN, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Aspira Women's Health Inc. ("Aspira" or the "Company") (NASDAQ:AWH), a bio-analytical based women's health company focused on the development of gynecologic disease diagnostic tools, today announced that it has closed its previously announced private placement for the issuance and sale of shares of the Company's common stock and accompanying warrants to purchase an equal number of shares for gross proceeds of approximately $1.9 million. Aspira has the potential to receive additional gross proceeds of up to $2.8 million, before deducting offering expenses, upon the full cash exercise of warrants issued in the private placement.
The private placement was completed with broad participation from certain existing shareholders and company insiders. Net proceeds from the Offering will support Aspira's ongoing commercial activities as well as general corporate purposes and working capital.
"The completion of this transaction is a powerful signal of support from our shareholders, many of whom have been on the journey with Aspira for some time," said Nicole Sandford, Chief Executive Officer at Aspira. "At-the-market pricing for common stock, not to mention a premium for accompanying warrants, is certainly rare these days. I believe it speaks volumes about investor confidence in our strategy, technology, and team. This cash infusion, combined with the recent expansion of OvaWatch for both initial and ongoing monitoring of masses and the compelling clinical data we published in May, increase the momentum behind our commercial strategy."
Ms. Sandford continued, "Today, we are both humbled and energized – we are ready to put these resources to work making OvaSuite products the standard of care for the 1.2 to 1.5 million U.S. women who develop an adnexal mass each year, which may require 2.0 to 4.0 million tests per year to allow doctors and clinical staff to effectively manage the risks of malignant disease."
About the Private Placement
Pursuant to the securities purchase agreement entered into on July 1, 2024, Aspira Women's Health issued to purchasers in the private placement an aggregate of 1,248,529 shares of its common stock ("Common Stock") and accompanying warrants ("Warrants") to ...