Intelligent Bio Solutions prices 7.27M shares at 55c in underwritten public offe

Intelligent Bio Solutions announced the pricing of an underwritten public offering of units for gross proceeds of approximately $4.0 million. Ladenburg Thalmann & Co. Inc. is acting as the sole bookrunning manager for the offering. The underwritten public offering consists of 7,272,727 shares of common stock, par value $0.01 per share, of the Company in lieu of Common Stock), 7,272,727 warrants to purchase shares of Common Stock that will expire on the five-and-a-half-year anniversary of the original issuance date, and 7,272,727 warrants to purchase shares of Common Stock that will expire on the one-and-a-half-year anniversary of the original issuance date. Each Unit consists of one share of Common Stock, one Series E Warrant and one Series F Warrant. The offering is expected to close on or about October 4, 2023, subject to customary closing conditions. The Units were priced at a combined public offering price of $0.55 per Unit for initial gross proceeds of approximately $4.0 million, before underwriting discounts and commissions and offering expenses. The Company intends to use the net proceeds from this offering for general corporate purposes and working capital. All of the securities to be sold in the offering will be sold by the Company. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 1,090,909 shares of its Common Stock and/or Series E Warrants to purchase up to an additional 1,090,909 shares of its Common Stock and/or Series F Warrants to purchase up to an additional 1,090,909 share