Premarket trading showed shares of a medical device technology company focused on unmet needs in global health, Aethlon Medical Inc. (NASD: AEMD) down by 9.28% to $6.26. AEMD stock closed the previous session at $6.90, down 36.05% or $3.89. Throughout the course of the day, AEMD stock fluctuated from $6.37 to $9.60.
The number of shares exchanged was 25.37 million, which was greater than the volume of AEMD’s 50-day daily average of 6.12 million and more than the volume for its Year to date of 3.08 million. After yesterday’s offering of registered direct offerings priced at market, AEMD stock has fallen significantly.
How will AEMD proceed with that offering?
As a global health organization, Aethlon addresses underserved populations. Cancer and life-threatening viral infections can be battled with AEMD’s Hemopurifier, a clinical-stage immunotherapeutic device. As part of their cancer treatment, AEMD’s Hemopurifier reduces circulating tumor-derived exosomes and enhances immunity.
Yesterday, Aethlon Medical disclosed that it had signed definitive agreements with one institutional investor.
- According to Nasdaq rules, AEMD will sell 1,380,555 shares of common stock in a registered direct offering at an offering price of $9.00 per share.
- In accordance with customary closing conditions, AEMD expects the offer will close on or around June 14, 2021.
- As the exclusive placement agent for AEMD’s offering, Maxim Group LLC acts as the agent.
How AEMD will be utilizing the proceeds?
Before deduction of placement agent fees and other offering expenses, approximately $12.425 million is expected to be received by Aethlon (AEMD). This offering will serve as working capital and other general corporate purposes for AEMD.