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Atossa Genetics to raise $1.4M in registered direct offering, private placement

Atossa Genetics Inc. is looking to raise about $1.4 million gross proceeds in a registered direct offering and concurrent private placement of its common stock with certain accredited investors.

Atossa Genetics will sell about 5.3 million common shares in the offering and will issue class A and class B warrants to buy up to about 5.3 million common shares in the private placement. Investors may buy one common share, one class A and one class B warrant for a combined purchase price of 27 cents.

The warrants are exercisable at 315 cents apiece, six months after the issuance date. The class A and B warrants will expire eight months and 12 months after the initial issuance date, respectively.

Closing of the transactions are expected to occur Dec. 22, subject to customary closing conditions.

Maxim Group LLC acted as sole placement agent for the offering.