Pulse Biosciences, Inc. Announces Commencement of Rights Offering
May 04 2022 - 7:00AM
Business Wire
Pulse Biosciences, Inc. (Nasdaq: PLSE) (the “Company” or “Pulse
Biosciences”), a novel bioelectric medicine company, today
announced that it has commenced its previously announced rights
offering of up to $15,000,000 of units (the “Units,” and each, a
“Unit”) at the Initial Price (as defined below). The subscription
rights will expire and have no value if they are not exercised
prior to 5:00 p.m., Eastern Time, on May 23, 2022 (the “Expiration
Date”).
Pursuant to the rights offering, Pulse Biosciences is
distributing non-transferable subscription rights to purchase the
Units to each holder of the Company’s common stock, par value
$0.001 per share (“Common Stock”), as of April 25, 2022. Each Unit
consists of one share of Common Stock and a warrant to purchase one
share of Common Stock. The subscription price per Unit shall be
equal to the lesser of (i) $3.72 per Unit (the “Initial Price”) or
(ii) the volume weighted average price of the Company’s Common
Stock for the five trading day period through and including the
Expiration Date (the “Alternate Price”). The subscription price
will determine the final number of Units issuable, and subsequently
the pro rata number of Units to which stockholders can subscribe.
Each warrant will be exercisable for one share of the Company’s
Common Stock at an exercise price that shall be equal to the
subscription price for the Units. The Common Stock and the warrants
comprising the Units will separate upon the closing of the rights
offering and will be issued separately; however, they may only be
purchased as a Unit and the Units will not trade as a separate
security.
Stockholders wishing to exercise subscription rights must timely
pay $3.72 per Unit, the Initial Price, for the number of Units they
wish to acquire. If the Alternate Price is lower than the Initial
Price on the Expiration Date, any excess subscription amounts paid
by a subscribing holder will be applied towards the purchase of
additional Units in the rights offering. Stockholders who fully
exercise their basic subscription rights will be entitled to
subscribe for additional Units that are not purchased by other
stockholders, on a pro rata basis and subject to availability.
The rights offering is being made pursuant to the Company’s
shelf registration statement on Form S-3, which was deemed
effective by the Securities and Exchange Commission (the “SEC”) on
August 21, 2020, including the prospectus contained therein as
modified by the prospectus supplement containing the detailed terms
of the rights offering filed with the SEC on May 4, 2022. Copies of
the foregoing documents may be obtained at the SEC’s website at
www.SEC.gov. Questions about the rights offering and requests for
copies of the prospectus and prospectus supplement relating to the
rights offering may be directed to Broadridge Corporate Issuer
Solutions, Inc., the Company’s information, subscription and
warrant agent for the rights offering, at the address and phone
number provided at the end of this release.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor will there be
any sale of 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 jurisdiction.
About Pulse Biosciences®
Pulse Biosciences is a novel bioelectric medicine company
committed to health innovation that has the potential to improve
the quality of life for patients. The Company’s proprietary
Nano-Pulse Stimulation technology delivers nano-second pulses of
electrical energy to non-thermally clear cells while sparing
adjacent non-cellular tissue. The CellFX® System is the first
commercial product to harness the distinctive advantages of NPS
technology to treat a variety of applications for which an optimal
solution remains unfulfilled. The initial commercial use of the
CellFX System is to address a range of dermatologic conditions that
share high demand among patients and practitioners for improved
dermatologic outcomes. Designed as a multi-application platform,
the CellFX System offers customer value with a utilization-based
revenue model. Visit pulsebiosciences.com to learn more.
To stay informed about the CellFX System, please visit
CellFX.com and sign-up for updates.
Pulse Biosciences, CellFX, Nano-Pulse Stimulation, NPS and the
stylized logos are among the trademarks and/or registered
trademarks of Pulse Biosciences, Inc. in the United States and
other countries.
Forward-Looking Statements
All statements in this press release that are not historical are
forward-looking statements, including, among other things,
statements relating to Pulse Biosciences’ expectations concerning
customer adoption and future use of the CellFX System to address a
range of dermatologic conditions, statements relating to the
effectiveness of the Company’s NPS technology and the CellFX System
to improve the quality of life for patients, and Pulse Biosciences’
expectations, whether stated or implied, regarding its planned
rights offering, financing plans and other future events. These
statements are not historical facts but rather are based on Pulse
Biosciences’ current expectations, estimates, and projections
regarding Pulse Biosciences’ business, operations and other similar
or related factors. Words such as “may,” “will,” “could,” “would,”
“should,” “anticipate,” “predict,” “potential,” “continue,”
“expects,” “intends,” “plans,” “projects,” “believes,” “estimates,”
and other similar or related expressions are used to identify these
forward-looking statements, although not all forward-looking
statements contain these words. You should not place undue reliance
on forward-looking statements because they involve known and
unknown risks, uncertainties, and assumptions that are difficult or
impossible to predict and, in some cases, beyond Pulse Biosciences’
control. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors,
including those described in Pulse Biosciences’ filings with the
Securities and Exchange Commission. Pulse Biosciences undertakes no
obligation to revise or update information in this release to
reflect events or circumstances in the future, even if new
information becomes available.
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version on businesswire.com: https://www.businesswire.com/news/home/20220504005411/en/
Investors: Pulse Biosciences Sandra Gardiner, EVP and CFO
510.241.1077 IR@pulsebiosciences.com or Gilmartin Group Philip Trip
Taylor 415.937.5406 philip@gilmartinir.com
Rights Offering Information, Subscription and Warrant
Agent: Broadridge Corporate Issuer Solutions, Inc. Attn: BCIS
Re-Organization Dept. P.O. Box 1317 Brentwood, NY 11717-0718
888.789.8409 shareholder@broadridge.com
Media: Tosk Communications Nadine D. Tosk 504.453.8344
nadinepr@gmail.com or press@pulsebiosciences.com
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