Akers Biosciences Announces a $2 Million Private Placement
March 30 2017 - 4:25PM
Marketwired
Akers Biosciences Announces a $2 Million Private Placement
THOROFARE, NJ-(Marketwired - Mar 30, 2017) - Akers Biosciences,
Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers Bio"), a
developer of rapid health information technologies, announces a
private placement to raise approximately $2 million. Akers Bio will
use the proceeds from the transaction as growth capital and for
general corporate purposes.
Akers Bio will issue 1,448,400 shares at a price of $1.40 per
share, resulting in gross proceeds to the Company of $2,027,760,
before fees and expenses. In addition, the Company will issue
724,200 warrants with a strike price of $1.96 per share and a
five-year term.
Joseph Gunnar & Co., LLC acted as sole placement agent for
the transaction.
The securities sold in the transaction have not been registered
under the Securities Act of 1933, as amended (the "Securities
Act"), or state securities laws and may not be offered or sold in
the United States absent registration with the Securities and
Exchange Commission or an applicable exemption from such
registration requirements.
This press release has been issued pursuant to Rule 135c under
the Securities Act and does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state.
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening
and testing products designed to deliver quicker and more
cost-effective healthcare information to healthcare providers and
consumers. The Company has advanced the science of diagnostics
while responding to major shifts in healthcare through the
development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical product distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be
found at www.akersbio.com. Follow us on Twitter @AkersBio.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to Akers Biosciences, Inc., its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
For more information: Akers Biosciences, Inc. John J. Gormally,
Chief Executive Officer Raymond F. Akers, Jr. PhD, Vice Chairman
Tel. +1 856 848 8698 finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance) Steve
Norcross (Broking) Tel. +44 (0)20 7220 0500 Taglich Brothers, Inc.
(Investor Relations) Chris Schreiber Tel. +1 917 445 6207 Email:
cs@taglichbrothers.com Vigo Communications (Global Public
Relations) Ben Simons / Fiona Henson Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
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