Core Viewpoint - Intelligent Bio Solutions Inc. has successfully closed a public offering of 1,500,000 shares at a price of 3.0 million in gross proceeds [1]. Company Overview - Intelligent Bio Solutions Inc. is a medical technology company focused on delivering innovative, rapid, non-invasive testing solutions. The company aims to transform portable testing through its Intelligent Fingerprinting Drug Screening System, which analyzes fingerprint sweat [5]. - The testing system screens for recent drug use, including opiates, cocaine, methamphetamine, and cannabis, and is designed to be hygienic and cost-effective, providing results in under ten minutes [5]. - Current customer segments outside the U.S. include construction, manufacturing, engineering, transport and logistics, drug treatment organizations, and coroners [5]. Offering Details - The public offering included the full exercise of the underwriter's option to purchase an additional 195,652 shares, contributing to the total gross proceeds [1]. - Ladenburg Thalmann & Co. Inc. served as the sole bookrunning manager for the offering [2]. - The offering was conducted under a shelf registration statement filed with the SEC, which was declared effective in April 2022 [3].
Intelligent Bio Solutions Inc. Announces Closing of $3.0 Million Public Offering of Common Stock and Full Exercise of the Underwriter's Option to Purchase Additional Shares of Common Stock