NAYA Biosciences Announces Pricing of $9.5 Million Public Offering

Core Viewpoint - NAYA Biosciences has announced a public offering of 13,615,171 units at a price of $0.70 per unit, aiming to raise approximately$9.5 million for various corporate purposes [1][3]. Group 1: Offering Details - The public offering consists of units that include one share of common stock (or pre-funded warrant) and one warrant to purchase one share of common stock, with an exercise price of $0.70 per share [1]. - The offering is expected to close on or about January 14, 2025, pending customary closing conditions [1]. - Maxim Group LLC is the lead placement agent, with Brookline Capital Markets acting as co-placement agent [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for multiple purposes, including funding an installment towards the purchase of the Wisconsin Fertility Institute, redeeming 4,000 shares of Series C-2 preferred stock valued at$4 million, and addressing outstanding debt obligations [3]. - Additional funds will be allocated for clinical trials, product development, marketing, strengthening the corporate management team, working capital, general corporate purposes, and potential acquisitions [3]. Group 3: Company Overview - NAYA Biosciences is focused on developing breakthrough treatments in oncology, autoimmune diseases, and women's health, utilizing a hub & spoke model for efficient asset acquisition and development [6]. - The company's portfolio includes several bifunctional antibodies targeting various cancers, such as NY-303 for hepatocellular carcinoma and NY-600 for metastatic Castration Resistant Prostate Cancer [7].