Ainos raises $9M in growth capital with existing shareholder

Ainos sold a $9 million convertible note with a conversion price of $4.50 to an existing shareholder. The note bears 6% compound interest rate and is convertible into the Company’s common shares at $4.50, and warrant coverage is 500,000 shares, with a strike price of $4.50 and five years to expiration. Ainos has several programs under development for which the growth capital can be used. For its AI Nose platform, Ainos aims to advance its flagship VOC POCT candidate Ainos Flora. Ainos has initiated the second phase of collaboration with Nisshinbo Micro Devices and Taiwan Inabata Sangyo for an AI Nose-powered VOC sensing platform with potential applications spanning a wide variety of industries, including telehealth, automotive, industrial, and environmental safety. VELDONA investigational new drugs are also a key program with the potential to deliver high-quality, safe, and effective therapeutics for a variety of indications. This growth capital will be pivotal in propelling Ainos forward in advancing clinical studies and the Company’s active pursuit of out-licensing of VELDONA human drug candidates, including its candidate for treating oral warts in HIV-seropositive patients.