Applied DNA Sciences (NASDAQ: APDN), a leader in polymerase chain reaction (“PCR”)-based DNA manufacturing, has closed on its previously announced registered direct offering. The offering was with an institutional investor and was comprised of 1,496,400 shares of common stock or common stock equivalents. The shares were sold at $2.80 per share, resulting in gross proceeds of an estimated $4.2 million before the deduction of standard fees and expenses. The announcement also noted a concurrent private placement with the same investor in which Applied DNA offered unregistered warrants to purchase up to 1,496,400 shares of common stock. According to the announcement, Roth Capital Partners acted as sole placement agent for the offering.
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About Applied DNA Sciences Inc.
Applied DNA is commercializing LinearDNA(TM), its proprietary, large-scale polymerase chain reaction (“PCR”)-based manufacturing platform that allows for the large-scale production of specific DNA sequences. The LinearDNA platform has utility in the nucleic acid-based in vitro diagnostics and preclinical nucleic acid-based drug development and manufacturing market. The platform is used to manufacture DNA for customers as components of in vitro diagnostic tests and for preclinical nucleic acid-based drug development in the fields of adoptive cell therapies (CAR T and TCR therapies), DNA vaccines (anti-viral and cancer), RNA therapies, clustered regularly interspaced short palindromic repeats (“CRISPR”)-based therapies and gene therapies. The LinearDNA platform also has nonbiologic applications, such as supply chain security, anticounterfeiting and antitheft technology. Key end markets include textiles, pharmaceuticals and nutraceuticals, and cannabis, among others. Leveraging its deep expertise in nucleic acid-based technologies, the company has also established safeCircle(TM), a high-throughput turnkey solution for population-scale COVID-19 testing. safeCircle is designed to look for infection within defined populations or communities utilizing high throughput testing methodologies that increase testing efficiencies and provide for rapid turnaround times. For more information about the company, visit www.ADNAS.com.
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