Atossa Genetics Inc. priced a previously announced underwritten public offering to raise $4 million.
The offering is made up of 664,000 class A units and 3,502 class B units. Each class A unit comprises a share of common stock and warrants to purchase common stock of the company; each class B unit is made up of series A convertible preferred stock with a face value of $1,000 and a warrant to purchase 1,333.33 shares of the company.
Each preferred stock is also convertible into 1,333.33 shares of the company. The warrants can be exercised at 93.75 cents per share for a period of five years from the date of issue.
The offering is expected to close April 3 and underwriters have an option to purchase up to an additional 800,000 of the common shares offered and/or 800,000 warrants.
Aegis Capital Corp. is the sole book-running manager for the offering.