SEATTLE, Oct. 26, 2017 (GLOBE NEWSWIRE) -- Atossa Genetics Inc. (NASDAQ:ATOS) (“Atossa” or the “Company”), a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods for breast cancer and other breast conditions, announced today the pricing of an underwritten public offering of 11,500,000 shares of common stock with a public offering price of $0.44 per share. Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $5.1 million.
Atossa intends to use the net proceeds for general corporate purposes. The Company has granted the underwriter an over-allotment option to purchase up to 1,000,000 additional shares of its common stock. The offering is expected to close on or about October 30, 2017, subject to satisfaction of customary closing conditions.
Maxim Group LLC is acting as sole book-running manager for the offering.
The securities described above are being offered by Atossa pursuant to a registration statement (File No. 333-220572) previously filed and declared effective by the Securities and Exchange Commission (SEC). The shares 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, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. Electronic copies of the preliminary prospectus supplement and accompanying prospectus are also available on the website of the SEC at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 the registration or qualification under the securities laws of any such state or jurisdiction.
About Atossa Genetics
Atossa Genetics Inc., is a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions. For more information, please visit www.atossagenetics.com.
Forward-looking statements in this press release, which Atossa undertakes no obligation to update, are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with any variation between preliminary and final clinical results, actions and inactions by the FDA, the outcome or timing of regulatory approvals needed by Atossa, lower than anticipated rate of patient enrollment, estimated market size of drugs under development, the safety and efficacy of Atossa's products and services, performance of clinical research organizations and investigators, obstacles resulting from proprietary rights held by others with respect to fulvestrant, such as patent rights, potential market sizes for Atossa’s drugs under development and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.
Atossa Genetics Company Contact:
Atossa Genetics Inc.
CFO and General Counsel
(O) 866 893-4927
Investor Relations Contact:
377 Oak Street
Garden City, NY 11530
Office: 516 222-2560
Source: Atossa Genetics Inc.
Source:Atossa Genetics Inc.