Atossa Genetics Announces Pricing of $1.4 Million Registered Direct Offering

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SEATTLE, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Atossa Genetics Inc. (NASDAQ:ATOS) (“Atossa” or the “Company”), a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods for breast cancer and other breast conditions, announced today it has entered into a securities purchase agreement with certain accredited investors to purchase approximately $1.4 million of its common stock in a registered direct offering and concurrent private placement.

Under the terms of the purchase agreement, Atossa has agreed to sell approximately 5.3 million shares of its common stock. In a concurrent private placement, Atossa has agreed to issue Class A and Class B warrants to purchase up to approximately 5.3 million shares of common stock each. The warrants will be exercisable six months following the date of issuance and have an exercise price of $0.315. The warrants cannot be exercised on a cashless basis unless there is no effective registration statement covering the common shares issuable upon exercise of the warrants. The Class A and Class B warrants will expire on the 8-month and 12-month anniversary of the initial issuance date, respectively. The combined purchase price for one share of common stock, one Class A warrant and one Class B warrant will be $0.27. The gross proceeds to Atossa from the registered direct offering and concurrent private placement are estimated to be approximately $1.4 million before deducting the placement agents’ fees and other estimated offering expenses. The registered direct offering and concurrent private placement is expected to close on or about December 22, 2017, subject to the satisfaction of customary closing conditions.

Maxim Group LLC acted as sole placement agent for the offering.

The common stock being sold pursuant to the registered direct offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-220572), previously filed with the Securities and Exchange Commission (the “SEC”) on September 22, 2017 and declared effective on October 5, 2017. Such securities are being offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with the SEC. The Class A and Class B warrants, along with the underlying common stock have not been registered under the Securities Act of 1933, as amended.  When available, copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained at the SEC’s website www.sec.gov or by contacting  Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Atossa Genetics

Atossa Genetics Inc. is a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions. For more information, please visit www.atossagenetics.com.

Forward-Looking Statements

Forward-looking statements in this press release, which Atossa undertakes no obligation to update, are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with closing the offering described herein, any variation between preliminary and final clinical results, actions and inactions by the FDA, the outcome or timing of regulatory approvals needed by Atossa, lower than anticipated rate of patient enrollment, estimated market size of drugs under development, the safety and efficacy of Atossa's products and services, performance of clinical research organizations and investigators, obstacles resulting from proprietary rights held by others with respect to fulvestrant, such as patent rights, potential market sizes for Atossa’s drugs under development and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.

Atossa Genetics Company Contact:

Atossa Genetics Inc.
Kyle Guse
CFO and General Counsel
(O) 866 893-4927
kyle.guse@atossagenetics.com

Investor Relations Contact:

Scott Gordon
CoreIR
377 Oak Street
Concourse 2
Garden City, NY 11530
Office: 516 222-2560
scottg@CoreIR.com

Source: Atossa Genetics Inc.

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Source: Atossa Genetics Inc.