GARDEN CITY, NY, Jan. 05, 2021 (GLOBE NEWSWIRE) — ProPhase Labs, Inc. (NASDAQ: PRPH), a diversified medical science and expertise firm, at present introduced that it has entered right into a definitive securities buy settlement with sure institutional and accredited traders to buy, in a registered direct providing, 550,000 shares of ProPhase widespread inventory, at a purchase order value of $10.00 per share, along with warrants to buy 275,000 shares of ProPhase widespread inventory at a purchase order value of $11.00 per share. Topic to customary closing situations, the transaction is predicted to shut on Thursday, January 7, 2021.
ProPhase anticipates that the online proceeds from this providing, after deducting providing bills, might be used for working capital and normal company functions. No placement agent or dealer supplier was used or participated within the providing.
The shares of widespread inventory are being supplied pursuant to a “shelf” registration assertion on Type S-3 (File No. 333‑225875), which was declared efficient by the Securities and Trade Fee (the “SEC”) on July 5, 2018. A prospectus complement and the accompanying prospectus referring to the registered direct providing might be filed with the SEC. Digital copies of the prospectus complement and the accompanying prospectus referring to the registered direct providing could also be obtained, when obtainable, on the SEC’s web site at http://www.sec.gov.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any jurisdiction during which such provide, solicitation or sale could be illegal previous to the registration or qualification below the securities legal guidelines of any such jurisdiction.
About ProPhase Labs
ProPhase Labs (NASDAQ: PRPH) is a diversified medical science and expertise firm with deep expertise with OTC shopper healthcare merchandise and dietary dietary supplements. The Firm is engaged within the analysis, growth, manufacture, distribution, advertising and sale of OTC shopper healthcare merchandise and dietary dietary supplements in america. This contains the event and advertising of dietary dietary supplements below the TK Dietary supplements® model. The Firm can also be growing ProPhase Diagnostics, Inc. (“ProPhase Diagnostics”) to supply COVID-19 and different Respiratory Pathogen Panel (RPP) Molecular checks. The Firm additionally continues to actively pursue strategic investments and acquisition alternatives for different corporations, applied sciences and merchandise. For extra data go to us at www.ProPhaseLabs.com.
Ahead Wanting Statements
Aside from the historic data contained herein, this doc comprises forward-looking statements inside the which means of the Non-public Securities Litigation Reform Act of 1995, together with statements concerning the anticipated closing of the providing and the anticipated use of proceeds. Administration believes that these forward-looking statements are cheap as and when made. Nevertheless, such forward-looking statements contain identified and unknown dangers, uncertainties, and different components that will trigger precise outcomes to vary materially from these projected within the forward-looking statements. These dangers and uncertainties embrace however aren’t restricted to administrative and different delays associated to the COVID-19 pandemic, and the danger components listed now and again in our Annual Report on Type 10-Okay, Quarterly Stories on Type 10-Q and any subsequent SEC filings.
Investor Contact
Chris Tyson
Managing Director
MZ Group – MZ North America
949-491-8235
PRPH@mzgroup.us
www.mzgroup.us
