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MILESTONE (MMD): Milestone Scientic, the Licensor of Milestone Medical Inc. Announces Pricing of Above Market $4.5 Million Public Offering of Common Stock and Warrants - raport 10

Raport bieżący nr 10/2020

Podstawa Prawna:
Art. 17 ust. 1 MAR - informacje poufne.

The Board of Directors of Milestone Medical Inc. (WAR: MMD, “the Company”, “the Issuer”), today announced that Milestone Scientific, Inc. (NYSE:MLSS, "Milestone Scientific”), the licensor of the Company’s computer-controlled injection and drug delivery technology as well as the majority shareholder of the Issuer, intends to offer for sale a combination of shares of Milestone Scientific’s common stock and warrants to purchase shares of its common stock in an underwritten public offering. Milestone Scientific intends to advance the proceeds from this offering to the Issuer for manufacturing, marketing, sales and distribution of its CompluFlo® Epidural System and development of new products and new product uses, working capital and general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether the net or when the offering may be completed, or as to the actual size or terms of the offering.

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The Board of Directors of the Issuer also announced the pricing of an underwritten offering of 4,750,000 shares of Milestone Scientific’s common stock and warrants to purchase up to an aggregate of 2,375,000 shares of the its common stock. Each share of common stock is being sold together with a warrant to purchase 0.50 of one share of common stock at a combined price to the public of $0.95. Gross proceeds before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $4.5 million.

The warrants will be immediately exercisable at a price of $1.20 per share of common stock and will expire three years from the date of issuance. The shares of common stock and the accompanying warrants can only be purchased together in the offering but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about April 14, 2020, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager for the offering.

Milestone Scientific also has granted to the underwriter a 45-day option to purchase up to an additional 712,500 shares of common stock and/or warrants to purchase up to 356,250 shares of common stock, at the public offering price less discounts and commissions.

The securities described above are being offered by Milestone Scientific pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). The securities are being offered by means of a prospectus supplement and accompanying prospectus, forming part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to this offering have been filed with the SEC. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Maxim Group LLC. Electronic copies of the preliminary prospectus supplement and accompanying prospectus are also available on the website of the SEC.

PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
DataImię i NazwiskoStanowisko/FunkcjaPodpis
2020-04-09Joseph D'AgostinoChief Financial OfficerJoseph D'Agostino

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