Intelligent Bio Solutions Inc. Enters Into Agreements to Raise $3.8 Million in Gross Proceeds

Core Viewpoint - Intelligent Bio Solutions Inc. has announced an agreement to exercise existing warrants to raise approximately $3.8 million, which will be used to fund the completion of its 510k filing with the U.S. FDA for its Fingerprint Drug Screening System [1][3][5]. Group 1: Financial Details - The company will exercise existing warrants to purchase up to 2,023,228 shares at a reduced price of $1.90 per share [1]. - The gross proceeds from this transaction are expected to be around $3.8 million before deducting fees and expenses [3]. - The transaction is anticipated to close on or about July 28, 2025, subject to customary closing conditions [5]. Group 2: Warrant and Share Details - Current warrant holders will receive new Inducement Warrants to purchase up to 4,046,456 shares at the same reduced exercise price of $1.90 per share, with a term of 5.5 years [4]. - In lieu of a complete exercise of the Existing Warrants, some holders will prepay $1.89 of the reduced exercise price and receive an amended warrant with an exercise price of $0.01 per share [4]. Group 3: Company Overview - Intelligent Bio Solutions Inc. specializes in intelligent, rapid, non-invasive testing solutions, particularly its Fingerprint Drug Screening System [8]. - The system is designed to screen for recent drug use, including opiates, cocaine, methamphetamine, and cannabis, and aims to serve safety-critical industries [8].