Atossa Therapeutics (ATOS) Prices Offering for Gross Proceeds of $20M

Atossa Therapeutics, Inc. (NASDAQ: ATOS), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19, announced today the pricing of an underwritten public offering with expected total gross proceeds of $20.0 million before deducting underwriting discounts, commissions and other offering expenses payable by the Company.

The securities offered by the Company consist of (i) 14,575,000 Units, each consisting of one share of common stock (the “Common Stock”), and 0.75 Warrants (“Warrants”) to purchase one share of Common Stock at a price of $1.00 per Unit and (ii) 5,425 Units, each consisting of one share of Series C Convertible Preferred Stock (the “Preferred Stock”) with a stated value of $1,000 per share and convertible into 1,000 shares of Common Stock together with Warrants to purchase 750 shares of Common Stock at a purchase price of $1,000 per Unit. The Warrants will have an exercise price of $1.00 per share, will be immediately exercisable and will expire four years from the date of issuance.

The shares of Common Stock, Preferred Stock and the accompanying Warrants, can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about December 11, 2020, subject to customary closing conditions.

Maxim Group LLC is acting as the sole book-running manager in connection with the offering.

Atossa Therapeutics has granted to Maxim Group LLC a 45-day option to purchase up to an additional 3,000,000 shares of Common Stock and/or Warrants to purchase up to an additional 2,250,000 shares of Common Stock, at the public offering price less discounts and commissions.

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