Applied DNA announces plans to price $12 million public sale of units

Deal conducted by Maxim Group to finance working capital and research

By Devika Patel

Knoxville, Tenn., Oct. 2 – Applied DNA Sciences Inc. plans to price a $12 million public offering of units with a $1.8 million greenshoe, according to a Form S-1 filed Thursday with the Securities and Exchange Commission.

The company will sell units of one common share and one five-year warrant.

Maxim Group LLC is the bookrunning manager.

Proceeds will be used for research and development and working capital.

Stony Brook, N.Y.-based Applied DNA Sciences provides patented DNA-based technologies to prevent and identify counterfeits.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.