Intelligent Bio Solutions (NASDAQ: INBS), a medical technology company developing non-invasive testing solutions, entered into an agreement with several current warrant holders to exercise or prepay certain existing warrants for up to 2,023,228 shares of common stock at a reduced price of $1.90 per share. The transaction is expected to generate approximately $3.8 million in gross proceeds before fees and expenses, with Ladenburg Thalmann & Co. Inc. acting as exclusive placement agent. In exchange for immediate exercise or prepayment, holders will receive new inducement warrants to purchase up to 4,046,456 shares at $1.90 per share with a 5.5-year term, contingent on stockholder approval. Proceeds will fund completion of the company’s 510(k) filing with the FDA for its Fingerprint Drug Screening System and support working capital and general corporate purposes. Closing is anticipated on or about July 28, 2025, subject to customary conditions.
To view the full press release, visit https://ibn.fm/8dJqw
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize 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 US include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners.
NOTE TO INVESTORS: The latest news and updates relating to INBS are available in the company’s newsroom at https://ibn.fm/INBS
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