Intelligent Bio Solutions raises $5M in private placement

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has entered into a securities purchase agreement with a single existing institutional investor for a private placement priced at-the-market under Nasdaq rules, the company announced in a press release.

The transaction involves the issuance of 2,036,659 shares of common stock, or Series M pre-funded warrants in lieu thereof, along with Series N-1 and Series N-2 warrants each covering up to 2,036,659 shares of common stock. The combined purchase price is $2.455 per share and associated warrants, with expected gross proceeds of approximately $5.0 million before placement agent fees and other expenses.

Both the Series N-1 and Series N-2 warrants carry an exercise price of $2.33 per share. Series N-1 warrants are exercisable immediately upon issuance, while Series N-2 warrants become exercisable upon stockholder approval. Each series carries a five-year term beginning from the date a related registration statement is declared effective by the SEC.

The Series N-1 warrants are callable at the company's option following a public announcement that its Intelligent Fingerprinting Drug Screening System has received 510(k) clearance from the U.S. Food and Drug Administration.

INBS said it intends to file an initial registration statement with the SEC covering the resale of shares no later than 15 calendar days following the agreement date, with efforts to have it declared effective within 45 days.

Ladenburg Thalmann & Co. Inc. is serving as the exclusive placement agent. The closing is expected on or about September 2, 2026, subject to customary closing conditions. Net proceeds are designated for working capital and general corporate purposes.

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