AIkido Pharma Inc. Announces Closing of $14.0 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules

On April 15, 2020 AIkido Pharma Inc. (AIKI) ("AIkido" or the "Company"), a technology development company committed to the fostering of innovative ideas, reported the closing of its previously announced registered direct offering with several institutional and accredited investors of 14,000,000 shares of its common stock at a purchase price of $1.00 per share, priced at-the-market under Nasdaq rules (Press release, Spherix, APR 15, 2020, View Source [SID1234556350]). The gross proceeds to the Company from the offering totaled $14.0 million, before deducting placement agent fees and other offering expenses.

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

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The shares of common stock described above were offered by AIkido pursuant to a shelf registration statement on Form S-3 (No. 333-220632), which was previously declared effective by the Securities and Exchange Commission ("SEC"). A final prospectus supplement and the accompanying prospectus relating to the common shares was filed by AIkido with the SEC and can be obtained at the SEC’s website at View Source Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, New York 10022, by email at [email protected] or by phone at (646) 975-6996.

This press release does not constitute an offer to buy nor will there be any sale of these securities in any state or 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 jurisdiction.