SAN DIEGO - Aethlon Medical, Inc. (NASDAQ:AEMD), a company engaged in the development of medical products for the treatment of cancer and infectious diseases, announced today the pricing of its public offering. The offering consists of 8.1 million shares of common stock, including equivalent pre-funded warrants, and two classes of purchase warrants, all priced at $0.58 per share or warrant. The Class A warrants are valid for five years from the issue date, while the Class B warrants will expire after one year.
The offering's closing is anticipated to take place on or about May 17, 2024, subject to customary closing conditions. Maxim Group LLC is the exclusive placement agent for the transaction. Before accounting for the placement agent's fees and other offering expenses, the gross proceeds are expected to be approximately $4.7 million. Aethlon plans to allocate the net proceeds for general corporate purposes, which may cover clinical trial costs, research and development, capital investments, and working capital.
The securities are offered through a registration statement filed with the Securities and Exchange Commission (SEC), which became effective today. Prospective buyers can obtain the final prospectus from the SEC's website or directly from Maxim Group LLC.
Aethlon is also known for its development of the Hemopurifier, a clinical-stage device aimed at treating advanced cancers and life-threatening viral infections, and is recognized as a Breakthrough Device by the FDA.
The press release includes forward-looking statements, which are subject to various risks and uncertainties and reflect the company's expectations regarding the offering's size, closure, and intended use of proceeds. These statements are not guarantees of future performance, and actual results may differ materially.
This news is based on a press release statement from Aethlon Medical, Inc.
InvestingPro Insights
Aethlon Medical's recent public offering announcement has caught the attention of investors, and with the offering priced at $0.58 per share, it's worth looking at the company's financial health and market performance through the lens of InvestingPro. Despite the challenges, AEMD holds more cash than debt on its balance sheet, which is a positive sign for investors considering the company's liquidity and financial stability. Moreover, two analysts have revised their earnings upwards for the upcoming period, indicating potential optimism in Aethlon's financial future.
On the data side, Aethlon Medical's market capitalization stands at a modest $2.23 million USD, reflecting the size of the company in the current market. The revenue has seen a dramatic increase over the last twelve months as of Q1 2023, with a growth rate of 4278.2%, signaling a significant expansion in the company's business activities. However, it's important to note that AEMD's operating income margin is deeply negative at -2047.16%, which raises concerns about the company's profitability and cost management.
Investors should be aware that AEMD's stock price has experienced considerable volatility, with a one-week price total return showing a decline of -31.99%. This level of price fluctuation could be a factor to consider for those looking for stable investments. For those interested in accessing more insights, InvestingPro offers additional tips on AEMD, which can be found at https://www.investing.com/pro/AEMD. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable information to guide investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.