Core Viewpoint - Intelligent Bio Solutions Inc. has announced a public offering of 1,304,348 shares of common stock at a price of 2.6 million before expenses [1][2]. Group 1: Offering Details - The offering is managed by Ladenburg Thalmann & Co. Inc. as the sole bookrunning manager [2]. - The company has granted the underwriter a 45-day option to purchase an additional 195,652 shares at the public offering price [2]. - The offering is expected to close on or about February 21, 2025, subject to customary closing conditions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for working capital and general corporate purposes [3]. Group 3: Company Overview - Intelligent Bio Solutions Inc. specializes in medical technology, focusing on rapid, non-invasive testing solutions [4]. - The company’s Intelligent Fingerprinting Drug Screening System analyzes fingerprint sweat to detect recent drug use, targeting industries such as construction, manufacturing, and transport [4]. - The testing system is designed to be hygienic and cost-effective, providing results in under ten minutes, which is beneficial for safety-critical industries [4].
Intelligent Bio Solutions Inc. Announces Pricing of $2.6 Million Public Offering of Common Stock