THOROFARE, NJ--(Marketwired - Mar 30, 2017) - Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers
Bio"), a developer of rapid health information technologies, announces a private placement to raise approximately $2 million.
Akers Bio will use the proceeds from the transaction as growth capital and for general corporate purposes.
Akers Bio will issue 1,448,400 shares at a price of $1.40 per share, resulting in gross proceeds to the Company of
$2,027,760, before fees and expenses. In addition, the Company will issue 724,200 warrants with a strike price of $1.96 per share
and a five-year term.
Joseph Gunnar & Co., LLC acted as sole placement agent for the transaction.
The securities sold in the transaction have not been registered under the Securities Act of 1933, as amended (the
"Securities Act"), or state securities laws and may not be offered or sold in the United States absent registration with the
Securities and Exchange Commission or an applicable exemption from such registration requirements.
This press release has been issued pursuant to Rule 135c under the Securities Act and does not constitute an offer
to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in
which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of
such state.
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and
more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of
diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies.
The Company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the
essence. The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product
offerings, and to be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be found at www.akersbio.com.
Follow us on Twitter @AkersBio.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and
constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating
results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not
limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the
offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect"
and similar expressions, as they relate to Akers Biosciences, Inc., its subsidiaries, or its management, are intended to identify
such forward-looking statements. These forward-looking statements are based on information currently available to the Company and
are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance,
prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.