Milestone Scientific (MLSS) Prices 4.765M Share Offering at $0.63/sh

Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced the pricing of an underwritten public offering of 4,765,000 shares of its common stock at a price of $0.63 per share (the “Offering”). Gross proceeds before underwriting discounts and commissions and estimated Offering expenses are expected to be approximately $3.0 million. The Offering is expected to close on December 13, 2023, subject to customary closing conditions.

The Company also granted to the underwriter a 45-day option to purchase up to an additional 714,750 shares of common stock, on the same terms and conditions.

Maxim Group LLC is acting as the sole book-runner for the Offering.

The shares of common stock are being offered pursuant to a registration statement on Form S-3 (File No. 333-275088), which was declared effective by the Securities and Exchange Commission (the "SEC") on October 30, 2023. The Offering is being made only by means of a prospectus supplement, which is a part of the effective registration statement. A preliminary prospectus supplement relating to the Offering was filed with the SEC on December 8, 2023. Copies of the final prospectus supplement relating to this Offering, when available, will be filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

This press release does not constitute an offer to sell or the 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 the registration or qualification under the securities laws of any such state or other jurisdiction.

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