Breaking Medical Technology Stock News: Aethlon Medical (NASDAQ:
$AEMD) Announces
Pricing of $4.7 Million Public Offering
SAN DIEGO, CA, May 15, 2024 (Investorideas.com Newswire) Aethlon
Medical, Inc. (NASDAQ:AEMD), a
medical therapeutic company focused on developing products to treat cancer and
life-threatening infectious diseases, today announced the pricing of a public
offering of an aggregate of 8,100,000 shares of its common stock (or pre-funded
warrants in lieu thereof), Class A warrants to purchase up to 8,100,000 shares
of common stock, and Class B warrants to purchase up to 8,100,000 shares of
common stock, at a combined public offering price of $0.58 per share (or
pre-funded warrant) and accompanying warrants. The warrants will have an
exercise price of $0.58 per share, subject to an adjustment, will be
exercisable immediately upon issuance and, in the case of Class A warrants,
will expire on the fifth anniversary of the original issuance date, and in the
case of Class B warrants, will expire on the one year anniversary of the original
issuance date. The closing of the offering is expected to occur on or about May
17, 2024, subject to the satisfaction of customary closing conditions.
This news is paid advertisement/ news disseminated
on behalf of/issued on behalf of Aethlon Medical Inc.
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Maxim
Group LLC is acting as the exclusive placement agent for the offering.
The
gross proceeds from the offering, before deducting the placement agent's fees
and other offering expenses, are expected to be approximately $4.7 million. The
Company intends to use the net proceeds from this offering for general
corporate purposes, which may include clinical trial expenses, research and
development expenses, capital expenditures and working capital.
The
securities described above are being offered pursuant to a registration
statement on Form S-1, as amended (File No. 333-278188), which was declared
effective by the Securities and Exchange Commission (the "SEC") on
May 15, 2024. The offering is being made only by means of a prospectus which
forms a part of the effective registration statement. A preliminary prospectus
relating to the offering has been filed with the SEC. Electronic copies of the
final prospectus, when available, may be obtained on the SEC's website at
www.sec.gov and may also be obtained by contacting Maxim Group LLC at 300 Park
Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by
telephone at (212) 895-3745 or by email at syndicate@maximgrp.com .
This
press release shall not constitute an offer to sell or a solicitation of an
offer to buy any of the securities described herein, nor shall there be any
sale of these securities in any state or other 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 other
jurisdiction.
About Aethlon and the Hemopurifier®
Aethlon
Medical is a medical therapeutic company focused on developing the
Hemopurifier, a clinical stage immunotherapeutic device which is designed to
combat cancer and life-threatening viral infections and for use in organ
transplantation. In human studies, the Hemopurifier has demonstrated the
removal of life-threatening viruses and in pre-clinical studies, the
Hemopurifier has demonstrated the removal of harmful exosomes from biological
fluids, utilizing its proprietary lectin-based technology. This action has
potential applications in cancer, where exosomes may promote immune suppression
and metastasis, and in life-threatening infectious diseases. The Hemopurifier
is a U.S. Food and Drug Administration ("FDA") designated
Breakthrough Device indicated for the treatment of individuals with advanced or
metastatic cancer who are either unresponsive to or intolerant of standard of
care therapy, and with cancer types in which exosomes have been shown to
participate in the development or severity of the disease. The Hemopurifier
also holds an FDA Breakthrough Device designation and an open Investigational
Device Exemption application related to the treatment of life-threatening
viruses that are not addressed with approved therapies.
Forward-Looking Statements
This
press release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that involve risks and
uncertainties, including statements regarding the size of the offering, the
anticipated timing of and the Company's ability to close the offering, and the
use of the net proceeds from the offering. Words such as
"anticipate," "expect," "intend,"
"may," "will," "potentially" or similar
expressions are intended to identify forward-looking statements, although not
all forward-looking statements necessarily contain these identifying words.
These forward-looking statements are based upon the Company's current
expectations, estimates and projections about the Company's business, which are
subject to a number of known and unknown risks, and involve assumptions that
may never materialize or may prove to be incorrect. Actual results and the
timing of events could differ materially from those anticipated in such
forward-looking statements as a result of various risks and uncertainties,
including, without limitation, risks associated with market conditions and
risks related to the Company's business. The foregoing list of risks and
uncertainties is illustrative, but is not exhaustive. Additional factors that
could cause results to differ materially from those anticipated in
forward-looking statements can be found under the caption "Risk
Factors" in the Company's Annual Report on Form 10-K for the year ended March
31, 2023, and in the Company's other filings with the Securities and Exchange
Commission, including its Quarterly Reports on Form 10-Q. All forward-looking
statements contained in this press release speak only as of the date on which
they were made. Except as may be required by law, the Company does not intend,
nor does it undertake any duty, to update this information to reflect future
events or circumstances.
Company Contact:
Jim
Frakes
Interim
Chief Executive Officer and Chief Financial Officer
Aethlon
Medical, Inc.
Investor
Contact:
Susan
Noonan
S.A.
Noonan Communications, LLC
917-513-5303
Aethlon
Medical Inc. (Nasdaq:AEMD) is a featured biotech stock on Investorideas.com
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