Apyx Medical Corp. (APYX) Announces $7,000,000 Million Registered Direct Offering

Apyx Medical Corporation (NASDAQ: APYX) (“Apyx Medical” or the “Company”), the manufacturer of a proprietary helium plasma and radiofrequency platform technology marketed and sold as Renuvion®, today announced it has entered into a definitive purchase agreement with Nantahala Capital for the purchase and sale in a registered direct offering of 3,000,000 shares of the Company’s common stock at a purchase price of $1.18 per share and pre-funded warrants to purchase up to 2,934,690 shares of the Company’s common stock at a purchase price of $1.179 per pre-funded warrant (which represents the per share offering price for common stock less the exercise price per share for each pre-funded warrant of $0.001). The gross proceeds to Apyx Medical from the offering were approximately $7,000,000, before deducting offering expenses payable by the Company. The offering closed on November 8, 2024.

The purchase price of $1.18 per share of common stock was calculated using the average closing price of the Company’s common stock on the Nasdaq Global Select Market for the five trading days prior to market close on November 7, 2024.

The Company did not use a placement agent in connection with the offering.

Apyx Medical intends to use the proceeds from the offering for working capital and other general corporate purposes.

The securities are being offered and sold by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-268532) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on December 2, 2022. The offering of such securities is being made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement. Copies of the prospectus supplement and accompanying base prospectus will be filed with the SEC and will be available free of charge on the SEC’s website at http://sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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