TIDMAKR
RNS Number : 7349T
Akers Biosciences, Inc.
10 January 2017
10 January 2017
This announcement contains inside information
Akers Biosciences, Inc.
Filing of Supplement to Form S-3 Registration Statement
Issue of Equity
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers
Bio" or the "Company"), a developer of rapid health information
technologies, announces that the Company will file a further
supplement to its Form S-3 Registration Statement confirming a
fully underwritten sale of 1,667,000 common shares at a public
offering price of $1.20 per share (the "Offering") together with
the issuance of 833,500 five-year warrants to purchase common
shares with an exercise price of $1.50 (the "Warrants"). The gross
proceeds from the Offering, excluding any proceeds on the exercise
of the Warrants, are expected to be approximately $2,000,400,
before deducting the underwriting discount and estimated offering
expenses. The funds raised will be used for working capital as well
as to accelerate growth in the US and in international markets,
further develop new customers and launch new diagnostic
products.
The Offering is expected to close on January 13, 2017, subject
to satisfaction of customary closing conditions. The shares and
warrants are being offered by Akers Biosciences, Inc. pursuant to a
registration statement previously filed with and subsequently
declared effective by the Securities and Exchange Commission. A
prospectus supplement relating to the Offering will be filed with
the SEC and will be available on the SEC's website at www.sec.gov
as well as the Company's website at www.akersbio.com.
The Company has applied for the admission of the Offering shares
to AIM and this is expected to take place on January 13, 2017
("Admission"). Following Admission, the Company's issued share
capital will consist of 7,119,545 common shares with no common
shares held in treasury. Therefore, the above figure of 7,119,545
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure and Transparency Rules.
Joseph Gunnar & Co., LLC is acting as sole book-running
manager for the offering.
This announcement shall not constitute an offer to sell or the
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 jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Copies of the
prospectus supplement and accompanying base prospectus relating to
the Offering may be obtained from Joseph Gunnar & Co, LLC,
Prospectus Department, 30 Broad Street, 11th Floor, New York, NY
10004, telephone: 212-440-9600, email: prospectus@jgunnar.com.
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.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
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, Co-founder and Chief Scientific
Director
Tel. +1 856 848 8698
Taglich Brothers, Inc. (Investor Relations)
Chris Schreiber
Tel. +1 917 445 6207
Email: cs@taglichbrothers.com
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7830 9700
Email: akers@vigocomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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