- POAI completes two separate fundraising initiatives: private placement, direct offering.
- Two fundraising campaigns expected to result in $17.6 million, $7.4 million respectively.
- Predictive Oncology plans to use funds to pay off debt as well as for working capital, general corporate purposes.
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, has announced two funding initiatives that together total an estimated $25 million. The company has entered into securities purchase agreements with institutional and accredited investors (https://ibn.fm/WH4nw) to raise approximately $17.6 million and is involved in a direct offering that is expected to raise $7.4 million (https://ibn.fm/uSv23).
The securities purchase agreement was comprised of a total of 9,043,766 shares of common stock and warrants, offered at a purchase price of $1.95 per share. The private placement was expected to close around Feb. 22, 2021. In the announcement of the private placement, Predictive Oncology noted that it planned to use some $5.88 million of the net proceeds from the…
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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