Atossa Genetics Closes Net Proceeds of $12.1M From Rights Offering- Sees CE0, CFO Insiders Participate
Seattle based Atossa Genetics Inc. (NasdaqCM: ATOS) is a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions.
According to Atossa Genetic’s latest 8k filing, Atossa, on May 30, 2018, completed its previously announced rights offering pursuant to its effective registration statement on Form S-1, as amended (Registration Statement No. 333-223949), previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”), and a prospectus filed with the SEC (the “Rights Offering”).
Pursuant to the Rights Offering, the Company sold an aggregate of 13,324 units consisting of an aggregate of 13,324 shares of Series B Preferred Stock and 3,784,016 warrants, with each warrant exercisable for one share of Common Stock at an exercise price of $4.05 per share, resulting in net proceeds to the Company of approximately $12.1 million, after deducting expenses relating to the Rights Offering, including dealer-manager fees and expenses, and excluding any proceeds received upon exercise of any warrants. In connection with the Rights Offering, the Company entered into a Warrant Agency Agreement with VStock Transfer, LLC. A copy of the agreement is filed as Exhibit 4.1 to this report and is incorporated by reference herein.
Also, according to Form 4’s filed 5-31-18 with the SEC, Atossa realized insider buying as their CEO, Steven Quay & their CFO Kyle Guse & an insider, Chen Shu-Chih, invested in this recent rights offering. Note that CFO Kyle Guse purchased stock in the Fall 2017.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive!