Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, announced that it has closed on two direct offerings. The offerings, which were available concurrently, were with different institutional investors and results in approximately $7.2 million in gross proceeds for the company, before the deduction of agent fees and other expenses. The first offering involved the company selling 3,837,280 shares of common stock for $0.60 per share; that offering resulted in an estimated $2.3 million. The company also issued unregistered warrants to these same investors in a concurrent private placement. Those warrants are for the purchase of up to 3,837,280 additional shares of common stock, with an exercise price of $0.70 per share; those warrants are exercisable six months following the date of issuance with an expiration date five and one-half years from the date of issuance. The second offering consisted of 8,162,720 shares of common stock being sold by the company at a purchase price of $0.60 per share, resulting in gross proceeds of about $4.9 million. In this offering, POAI also amended existing warrants to purchase up to 16,325,435 shares of its common stock that had been previously issued to the same investors; these shares had exercise prices ranging from $1 to $2 per share with expiration dates ranging from Aug. 17, 2024, to Aug. 23, 2026. The amendment reduced the exercise price of $0.70 per share and made the shares non-exercisable until six months following the closing of the registered direct offering; the agreement also extended the expiration date to five and one-half years following the closing of the registered direct offering.
To view the full press release, visit https://ibn.fm/6tDel
About Predictive Oncology Inc.
Predictive Oncology operates through four segments (Skyline, Helomics, zPREDICTA and Soluble), which covers five subsidiaries: Helomics, TumorGenesis, Skyline Medical, zPREDICTA and Soluble Biotech. TumorGenesis is the company’s arm for research and development for zPREDICTA, Soluble Biotech and Helomics. This subsidiary is also involved in media which aid cancer cells grow outside the body of patients and preserve their proteomic and RNA/DNA signatures. Helomics Holding Corporation is involved in applying artificial intelligence (“AI”) in the company’s precision medicine business, to offer AI-driven predictive models of tumor drug response to enhance clinical results for patients and to aid diagnostic, biotech and pharmaceutical industries in the new personalized diagnostics and drugs development. Skyline Medical Inc.’s STREAMWAY System is a fully automated, wall-mounted system that is utilized to dispose of an unlimited quantity of suction fluid offering continuous performance for medical practitioners while effectively eradicating healthcare professional’s exposure to potentially infectious liquids gathered during surgical and other medical operations. Soluble Biotech Inc. is involved in research focused on protein production, stability studies and solubility improvements. zPREDICTA Inc. carries out tumor-specific research using vitro models for oncology and drug development. For more information about the company, please visit www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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