GBS(US:INBS) Globenewswire·2025-12-31 22:20Core Viewpoint - Intelligent Bio Solutions Inc. has entered into a securities purchase agreement to raise approximately $10 million through a private placement of common stock and warrants, aimed at enhancing its working capital and general corporate purposes [1][2]. Group 1: Securities Offering - The company will issue 2,298,850 shares of common stock and associated Series K-1 and K-2 warrants, priced at $4.35 per share, with expected gross proceeds of around $10 million before expenses [1]. - The Series K-1 and K-2 warrants will have an exercise price of $4.10 per share and will be exercisable immediately upon issuance, with a term of five years [1]. - The closing of the private placement is anticipated on or about January 2, 2026, subject to customary closing conditions [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized for working capital and general corporate purposes [2]. Group 3: Company Overview - Intelligent Bio Solutions Inc. specializes in medical technology, focusing on intelligent, rapid, non-invasive testing solutions, particularly through its Intelligent Fingerprinting Drug Screening System [5]. - The company's technology allows for quick sample collection and results in under ten minutes, targeting industries such as construction, manufacturing, and transport [5].