Summary by Futu AI
On February 4, 2024, Intelligent Bio Solutions Inc., a Delaware-incorporated company listed on The Nasdaq Stock Market under the symbol INBS, entered into warrant inducement agreements with certain holders of its Series E Warrants issued on October 4, 2023. The agreement allowed these holders to exercise their existing warrants and receive one-for-one replacement warrants, termed Series G Warrants, which are immediately exercisable and will expire after 5.5 years. The exercise of the existing warrants resulted in the issuance of 606,064 shares of common stock and generated gross proceeds of approximately $1.77 million for the company, before deducting closing costs and placement agent fees. The net proceeds are intended for working capital and general corporate purposes. The company has committed to filing a resale registration...Show More