Intelligent Bio Solutions raises $10 million in private placement

Intelligent Bio Solutions Inc. (NASDAQ: INBS) announced it entered into a securities purchase agreement with two healthcare institutional investors for a private placement expected to generate approximately $10 million in gross proceeds.

The medical technology company will issue 2,298,850 shares of common stock along with Series K-1 and Series K-2 warrants at a combined purchase price of $4.35 per share. Each series of warrants allows the purchase of up to 2,298,850 additional shares at an exercise price of $4.10 per share.

The warrants will be exercisable immediately upon issuance and will have a five-year term following the effective date of a registration statement for the underlying warrant shares with the Securities and Exchange Commission.

Ladenburg Thalmann & Co. Inc. serves as the exclusive placement agent for the transaction. The closing is expected to occur on or about January 2, 2026, subject to customary closing conditions.

The company stated it intends to use the net proceeds for working capital and general corporate purposes. Under the agreement, Intelligent Bio Solutions committed to file a registration statement with the SEC within 10 calendar days of the agreement date and work to have it declared effective within 45 days.

The securities are being sold in a private placement transaction and have not been registered under the Securities Act of 1933. Intelligent Bio Solutions develops rapid, non-invasive testing solutions, including a fingerprint-based drug screening system.

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