Predictive Oncology Closes Registered Direct Offering

Rhea-AI Summary

Predictive Oncology (NASDAQ: POAI) has successfully closed its previously announced registered direct offering, selling 363,336 shares of common stock at $1.50 per share, priced at-the-market under Nasdaq rules. The offering generated gross proceeds of approximately $545,004 before deducting placement agent fees and other expenses. H.C. Wainwright & Co. served as the exclusive placement agent.

The company plans to utilize the net proceeds for working capital and general corporate purposes. The offering was conducted under a shelf registration statement on Form S-3 that became effective on May 21, 2024. A final prospectus supplement and accompanying prospectus were filed with the SEC on February 19, 2025.

Positive

• Secured immediate funding of $545,004 through equity offering
• Successful completion of at-market offering without discount

Negative

• Potential dilution of existing shareholders through issuance of 363,336 new shares
• Small offering size suggests funding secured relative to typical biotech needs
• Additional offering expenses and placement agent fees will reduce net proceeds

PITTSBURGH, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Predictive Oncology Inc. (NASDAQ: POAI) (“Predictive Oncology” or the “Company”), a leader in AI-driven drug discovery and biologics, today closed its previously announced registered direct offering for the purchase and sale of 363,336 shares of common stock at a purchase price of $1.50 per share priced at-the-market under Nasdaq rules.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds to the Company from the offering were approximately $545,004 before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The common stock described above were offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333- 279123) that was declared effective by the Securities and Exchange Commission (the “SEC”) on May 21, 2024. The offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering was filed with the SEC on February 19, 2025. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Predictive Oncology

Predictive Oncology is on the cutting edge of the rapidly growing use of artificial intelligence and machine learning to expedite early drug discovery and enable drug development for the benefit of cancer patients worldwide. The Company’s scientifically validated AI platform, PEDAL, is able to predict with 92% accuracy if a tumor sample will respond to a certain drug compound, allowing for a more informed selection of drug/tumor type combinations for subsequent in-vitro testing. Together with the Company’s vast biobank of more than 150,000 assay-capable heterogenous human tumor samples, Predictive Oncology offers its academic and industry partners one of the industry’s broadest AI-based drug discovery solutions, further complimented by its wholly owned CLIA laboratory facility. Predictive Oncology is headquartered in Pittsburgh, PA.

Investor Relations Contact:

Tim McCarthy
LifeSci Advisors, LLC
tim@lifesciadvisors.com

Forward-Looking Statements:

Certain matters discussed in this release contain forward-looking statements, including, without limitation, the anticipated use of proceeds from offering. These forward-looking statements reflect our current expectations and projections about future events and are subject to substantial risks, uncertainties and assumptions about our operations and the investments we make. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue and financial performance, projected costs, prospects, changes in management, plans and objectives of management are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “would,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors including, among other things, factors discussed under the heading “Risk Factors” in our filings with the SEC. Except as expressly required by law, the company disclaims any intent or obligation to update these forward-looking statements.

FAQ

How much did Predictive Oncology (POAI) raise in its February 2025 direct offering?

Predictive Oncology raised gross proceeds of approximately $545,004 through the sale of 363,336 shares at $1.50 per share.

What is the price per share for POAI's February 2025 direct offering?

The shares were priced at $1.50 per share, at-the-market under Nasdaq rules.

How will POAI use the proceeds from its February 2025 offering?

The company intends to use the net proceeds for working capital and general corporate purposes.

Who was the placement agent for POAI's February 2025 direct offering?

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

How many new shares did POAI issue in its February 2025 offering?

POAI issued 363,336 new shares of common stock in the offering.