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KOMISJA NADZORU FINANSOWEGO |
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Raport bieżący nr |
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2020 |
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Data sporządzenia: |
2020-06-30 |
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Skrócona nazwa emitenta |
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MILESTONE MEDICAL |
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Temat |
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Closing of $14.6 Million Offering of Common Stock and Warrants by Milestone Scientic
Inc., the Majority Shareholder of the Issuer
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Podstawa prawna |
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Art. 17 ust. 1 MAR - informacje poufne.
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Treść raportu: |
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The Board of Directors of Milestone Medical Inc. _WAR: MMD, “the Company", “the Issuer"_
today announced that on June 30, 2020 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 closed its previously
announced underwritten offering of 6,520,000 shares of its common stock and warrants
to purchase up to an aggregate of 3,260,000 shares of the its common stock. Each share
of common stock was sold together with a warrant to purchase 0.50 of one share of
common stock at a combined price to the public of $2.15. Gross proceeds before underwriting
discounts and commissions and estimated offering expenses, were approximately $14.0
million. In addition, Milestone Scientific granted to Maxim Group LLC a 45-day option
to purchase up to an additional 978,000 shares of common stock and/or warrants to
purchase up to 489,000 shares of common stock for the purposes of covering any over-allotments,
at the public offering price less discounts and commissions, of which Maxim Group
LLC partially exercised its option to purchase 250,000 shares of common stock and
warrants to purchase up to 489,000 shares of common stock. The over-allotment exercise
transaction also closed on June 30, 2020, bringing the total gross proceeds of the
offering, before underwriting discounts and commissions and estimated offering expenses,
to approximately $14.6 million. Milestone Scientific intends to advance some of 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 warrants are immediately exercisable at a price of $2.60 per share of common stock
and expire three years from the date of issuance. The shares of common stock and the
accompanying warrants were purchased together in the offering but were issued separately
and were immediately separable upon issuance.
Maxim Group LLC acted as sole book-running manager for the offering.
The securities described above are being offered by Milestone Scientific pursuant
to a registration statement _File No. 333-231178_ 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.
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RB_ASO: Closing of $14.6 Million Offering of Common Stock and Warrants by Milestone Scientic
Inc., the Majority Shareholder of the Issuer
