Intensity Therapeutics (INTS) Announces 3.13M Share Offering at $0.85/sh

Intensity Therapeutics, Inc. (NASDAQ: INTS), ("Intensity" or the "Company") a late-stage clinical biotechnology company focused on the discovery and development of proprietary, novel immune-based intratumoral cancer therapies designed to kill tumors and increase immune system recognition of cancers, today announced the pricing of its "reasonable best efforts" public offering with participation from certain new and existing institutional and accredited investors for the purchase and sale of 3,133,333 shares of its common stock (or common stock equivalents in lieu thereof) and accompanying Series B-1 common warrants to purchase up to 3,133,333 shares of common stock and Series B-2 common warrants to purchase up to 3,133,333 shares of common stock at a combined purchase price per share and accompanying common warrants of $0.75 (the "Offering").

The Series B-1 warrants will have an exercise price of $0.85 per share, will be immediately exercisable and will expire 5 years from issuance. The Series B-2 warrants will have an exercise price of $0.85 per share, will be immediately exercisable and will expire 18 months from issuance.

The closing of the Offering is expected to occur on or about April 28, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the Offering are expected to be approximately $2.35 million, before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for the enrollment of patients in the INVINCIBLE-4 Study, for the treatment of existing patients enrolled in the INVINCIBLE-3 Study, and for working capital and general corporate purposes.

A.G.P./Alliance Global Partners is acting as lead placement agent for the Offering and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as a co-placement agent for the Offering.

The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No.333-286683), previously filed with the Securities and Exchange Commission ("SEC"), which was declared effective on April 24, 2025. The Offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the preliminary prospectus and, when available, copies of the final prospectus, relating to the Offering may be obtained on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus relating to the Offering may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.

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