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Intelligent Bio Solutions Inc. Announces Pricing of $2.6 Million Public Offering of Common Stock

1. INBS announced a public offering priced at $2.00 per share. 2. 1,304,348 shares offered, with a 45-day option for 195,652 extra shares. 3. Gross proceeds of approximately $2.6M will fund working capital and corporate purposes. 4. The offering closes around February 21, 2025, subject to customary conditions.

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FAQ

Why Neutral?

Issuing new shares introduces dilution, leading to potential short-term downward pressure; similar public offerings in small-cap biotechs have shown temporary price drops before operational improvements materialize.

How important is it?

The offering is moderately significant given its dilutive nature and its use for working capital, which could impact investor sentiment and price action.

Why Short Term?

The immediate effect of dilution generally affects the stock price in the near term, although the raised funds might support long-term growth if deployed effectively.

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February 20, 2025 08:30 ET  | Source: Intelligent Bio Solutions, Inc. NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) (the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced the pricing of its previously announced underwritten public offering of 1,304,348 shares of common stock at a public offering price of $2.00 per share of common stock, for gross proceeds of approximately $2.6 million, before deducting underwriting discounts and commissions and offering expenses. Ladenburg Thalmann & Co. Inc. is acting as the sole bookrunning manager for the offering. All of the shares of common stock to be sold in the offering will be sold by the Company. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 195,652 shares of its common stock at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about February 21, 2025, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on April 8, 2022, and declared effective by the SEC on April 20, 2022. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Ladenburg Thalmann & Co. Inc. at Attn: Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, NY 10019 or by e-mail at prospectus@ladenburg.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. About Intelligent Bio Solutions Inc. Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering innovative, rapid, non-invasive testing solutions The Company believes that its Intelligent Fingerprinting Drug Screening System will transform portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company’s current customer segments outside the U.S. include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners. For more information, visit http://www.ibs.inc Forward-Looking Statements: Some of the statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.’s ability to successfully consummate the transaction described in this press release and the use of proceeds therefrom, develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, included in Intelligent Bio Solutions’ public filings filed with the Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. Company Contact: Intelligent Bio Solutions Inc.info@ibs.inc Investor & Media Contact: Valter Pinto, Managing DirectorKCSA Strategic CommunicationsPH: (212) 896-1254INBS@kcsa.com

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