AIkido Pharma Inc. Announces Closing of $14.0 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules
Summary
NEW YORK, April 15, 2020 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company"), a technology development company committed to the fostering of innovative ideas, announced today the closing of its previously announced registered direct offering with several institutional and accredited investors of 14,000,000 shares of its common stock at a purchase price of $1.00 per share, priced at-the-market under Nasdaq rules. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. The shares of common stock described above were offered by AIkido pursuant to a shelf registration statement on Form S-3 (No. Particular uncertainties and risks include: the use of proceeds of the offering; market and other conditions; the difficulty of developing pharmaceutical products; obtaining regulatory and other approvals and achieving market acceptance; general business and economic conditions; the Companys need for and ability to obtain additional financing or partnering arrangements; and the various risk factors (many of which are beyond AIkidos control) as described under the heading "Risk Factors" in the preliminary prospectus and AIkidos filings with the United States Securities and Exchange Commission. AIkido undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
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