SAN
DIEGO, May 15, 2024 /PRNewswire/ -- 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.
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.
Jfrakes@aethlonmedical.com
Investor Contact:
Susan
Noonan
S.A. Noonan Communications, LLC
susan@sanoonan.com
917-513-5303
View original
content:https://www.prnewswire.com/news-releases/aethlon-medical-announces-pricing-of-4-7-million-public-offering-302145994.html
SOURCE Aethlon Medical, Inc.