Precipio, Inc. announced that it has entered into a securities purchase agreement on best effort bases with certain institutional investors for 319,445 pre-funded warrants at a price of $0.0449 per share for gross proceeds of $14,343.0805? on June 7, 2023. The company will also issue warrants to purchase up to 8,888,890 shares of common stock in a concurrent private placement.

The warrants will be issued at an exercise price of $0.63 per share, and will expire December 12, 2028. The pre-funded warrants will have a nominal exercise price of $0.001 per share and will be immediately exercisable and of indefinite term. The Common Warrants and shares of Common Stock underlying the Common Warrants have not been registered under the Securities Act, pursuant to the Registration Statement and are instead being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and Rule 506(b) promulgated thereunder.

The transaction is expected to close on June 12, 2023.