Ainos (AIMD) Announces $3 Million Convertible Notes Private Placement
Ainos, Inc. (AIMD, AIMDW) (“Ainos”, or the “Company”), a diversified medtech company focused on the development of novel point-of-care testing, low-dose interferon therapeutics, and synthetic RNA-driven preventative medicine, today announced that it has entered into two convertible note purchase agreements, under which the Company has issued and sold two convertible promissory notes (the “Notes”) in a principal amount of US$3 million to certain investors.
The Notes will mature in two years following the issuance, bearing interest at the rate of 6% per annum. At any time after the issuance and before the maturity date, the Notes are convertible into the common shares of the Company (the “Common Shares”). The conversion price is US$1.50 per Common Share, subject to adjustment as set forth in the Notes. Unless previously converted, the Company shall repay the outstanding principal amount plus all accrued but unpaid interest on the maturity date. The Note shall be an unsecured general obligation of the Company. Additional information regarding the private placement and the Notes will be included in a Form 8-K to be furnished to the U.S. Securities and Exchange Commission by the Company.
Chun-Hsien Tsai, Ainos’ Chairman of the Board, President, and Chief Executive Officer, commented, “We would like to thank our new investors for their recognition of our strong growth potential. This transaction bolsters our financial position and provides us with additional capital as we advance the monetization of our innovative product pipeline.”
This note and the underlying securities represented hereby have not been registered under the United States Securities Act of 1933, as amended (the “Act”), or under any other securities laws. The note and the securities represented hereby are being offered pursuant to a safe harbor from registration under Regulation S promulgated under the Act. Accordingly, the Notes and the underlying securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or a 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 the registration or qualification under the securities laws of any such state or other jurisdiction.
