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Milestone Scientific Prices 3.26M Share Offering of Common Stock and Warrants @$2.15/Share and Warrant

Milestone Scientific Inc. (NYSE: MLSS) announced the pricing of an 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 its common stock.

Benzinga · -
Milestone Scientific Inc. (NYSE: MLSS) announced the pricing of an 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 its common stock. Each share of common stock is being 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, are expected to be approximately $14.0 million. The warrants will be immediately exercisable at a price of $2.60 per share of common stock and will expire three years from the date of issuance. The shares of common stock and the accompanying warrants can only be purchased together in the offering but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about June 30, 2020, subject to customary closing conditions. Maxim Group LLC is acting as sole book-running manager for the offering.