- Applied DNA Sciences ( NASDAQ: APDN ) shares rose 12% pre-market on Tuesday after the firm announced the receipt of ~$3.6M in net proceeds from warrant exercise by an institutional investor.
- The Series B warrants exercised were issued in connection with a public offering that closed on August 8, 2022.
- Each Series B warrant entitles its owner to purchase one share of common stock in the company at a per share price of $4.00 until Sep. 08, 2023; 2.1M Series B warrants associated with the offering remain outstanding.
- Series A warrants were also issued in connection with the offering. All 3M Series A warrants remain outstanding until Aug. 09, 2027.
For further details see:
Applied DNA Sciences gains as it secures ~$3.6M proceeds from warrant exercise