ProPhase Labs Announces Proposed Public Offering of Common Stock
November 07 2024 - 3:05PM
ProPhase Labs, Inc. (NASDAQ: PRPH), a next-generation biotech,
genomics and diagnostics company, today announced that it intends
to offer to sell shares of its common stock (and/or pre-funded
warrants (“Pre-Funded Warrants”) in lieu thereof) in an
underwritten public offering. The Company expects to grant the
underwriters a 45-day option to purchase up to an additional 15% of
the number of shares of common stock and/or Pre-Funded Warrants
sold in this offering to cover over-allotments, if any. All of the
shares of common stock (and/or Pre-Funded Warrants) are being
offered by the Company. The offering is subject to market
conditions and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
ProPhase intends to use the net proceeds from
this offering for working capital and general corporate purposes,
which may include capital expenditures, product development and
commercialization expenditures, and acquisitions of companies,
businesses, technologies and products within and outside the
diagnostic services, genomics and consumer products industry.
ThinkEquity is acting as sole book-running
manager for the offering.
The securities will be offered and sold pursuant
to a shelf registration statement on Form S-3 (File No.
333-260848), including a base prospectus, filed with the U.S.
Securities and Exchange Commission (the “SEC”) on November 5, 2021
and declared effective on November 12, 2021. The offering will be
made only by means of a written prospectus. A preliminary
prospectus supplement and accompanying prospectus describing the
terms of the offering has been or will be filed with the SEC on its
website at www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to the offering
may also be obtained from the offices of ThinkEquity, 17 State
Street, 41st Floor, New York, New York 10004. Before investing in
this offering, interested parties should read in their entirety the
preliminary prospectus supplement and the accompanying prospectus
and the other documents that the Company has filed with the SEC
that are incorporated by reference in such preliminary prospectus
supplement and the accompanying prospectus, which provide more
information about the Company and such offering.
This press release shall 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 registration or qualification under the
securities laws of any such state or other jurisdiction. Any offer,
if at all, will be made only by means of the prospectus supplement
and accompanying prospectus forming a part of the effective
registration statement.
About ProPhase Labs
ProPhase Labs, Inc. (Nasdaq: PRPH) (“ProPhase”)
is a next-generation biotech, genomics and diagnostics company. Our
goal is to create a healthier world with bold action and the power
of insight. We believe we are revolutionizing healthcare with
industry-leading Whole Genome Sequencing solutions, while
developing potential game changer diagnostics and therapeutics in
the fight against cancer. This includes a potentially life-saving
cancer test focused on early detection of esophageal cancer and
potential breakthrough cancer therapeutics with novel mechanisms of
action. Our world-class CLIA labs and cutting-edge diagnostic
technology provide wellness solutions for healthcare providers and
consumers. We develop, manufacture, and commercialize health and
wellness solutions to enable people to live their best lives. We
are committed to executional excellence, smart diversification, and
a synergistic, omni-channel approach. ProPhase Labs’ subsidiaries
and their strategic synergies highlight our potential for long-term
value.
For more information, visit
www.ProPhaseLabs.com
Forward Looking Statements
This press release contains “forward-looking
statements” as defined by the Private Securities Litigation Reform
Act of 1995 that involve risks and uncertainties. In some cases,
you can identify forward-looking statements by terms such as “may,”
“might,” “will,” “objective,” “intend,” “should,” “could,” “can,”
“would,” “expect,” “believe,” “design,” “estimate,” “predict,”
“potential,” “plan” or the negative of these terms and similar
expressions intended to identify forward-looking statements. These
statements include statements related to the expected completion of
the offering described herein and the intended use of proceeds. The
Company cautions readers that forward-looking statements are based
on management’s expectations and assumptions as of the date of this
release and are subject to certain risks and uncertainties that
could cause actual results to differ materially, including, but not
limited to, risks related to whether the Company will consummate
the proposed offering of common stock on the expected terms, or at
all; the anticipated use of the net proceeds from the offering; and
the fact that the Company’s management will have broad discretion
in the use of the proceeds from any sale of common stock.
Management believes that these forward-looking statements are
reasonable as and when made. The Company undertakes no obligation
to update forward-looking statements except as required by
applicable securities laws.
Media Relations and Institutional Investor
Contact:
ProPhase Labs,
Inc.267-880-1111investorrelations@prophaselabs.com
Retail Investor Relations Contact:
Renmark Financial CommunicationsJohn
Boidman514-939-3989Jboidman@renmarkfinancial.com
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