Company sells 18,735,429 common shares at $0.11454, a 4.13% premium
By Devika Patel
Knoxville, Tenn., June 6 – Applied DNA Sciences, Inc. raised $2.15 million in a private placement of common stock on June 3, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 18,735,429 shares at $0.11454 per share, which is a 4.13% premium to the June 2 closing share price of $0.11 and also represents a 5% discount to the volume-weighted average closing price of the stock from May 13 to May 16, the company said in the filing.
Investors also received warrants for 18,735,429 shares. Each warrant is exercisable at $0.13744 for one year. The strike price is a 24.95% premium to the June 2 closing share price.
Stony Brook, N.Y.-based Applied DNA Sciences provides patented DNA-based technologies to prevent and identify counterfeits.
| Issuer: | Applied DNA Sciences, Inc.
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| Issue: | Common stock
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| Amount: | $2,145,956
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| Shares: | 18,735,429
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| Price: | $0.11454
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| Warrants: | For 18,735,429 shares
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| Warrant expiration: | One year
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| Warrant strike price: | $0.13744
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| Settlement date: | June 3
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| Stock symbol: | OTCBB: APDN
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| Stock price: | $0.11 at close June 2
|
| Market capitalization: | $91.37 million
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