MINNEAPOLIS, March 26, 2019 (GLOBE NEWSWIRE) -- Precision Therapeutics Inc. (NASDAQ: AIPT) (“Precision” or “the
Company”) today announced a proposed public offering of its common stock and warrants to purchase common stock. The offering is
subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to
the actual size or terms of the offering.
Dawson James Securities, Inc. is acting as exclusive placement agent for the offering.
Precision intends to use the net proceeds from the offering, if completed, for working capital and general
corporate purposes. Precision may also use a portion of the net proceeds to repay indebtedness.
The offering is being made by Precision pursuant to a shelf registration statement previously filed with the
Securities and Exchange Commission (the “SEC”) and declared effective on October 4, 2016. The offering of the securities will be
made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying
prospectus related to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus
may also be obtained by contacting Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th
Floor, Boca Raton, FL 33432, or by telephone toll free at (866) 928-0928, or by email at mmaclaren@dawsonjames.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of any such jurisdiction.
About Precision Therapeutics Inc.
Precision Therapeutics (NASDAQ:AIPT) operates in two business areas: first, applying artificial intelligence to
personalized medicine and drug discovery to provide personalized medicine solutions for patients and clinicians as well as clients
in the pharmaceutical, diagnostic, and biotech industries, and second, production of the FDA-approved STREAMWAY® System for
automated, direct-to-drain medical fluid disposal.
Forward-looking Statements
This press release contains forward-looking statements, including statements related to Precision’s public offering
of common stock and warrants and the completion of the offering that involve risks and uncertainties. These forward-looking
statements are based upon Precision’s current expectations. Actual results and the timing of events could differ materially from
those anticipated in such forward-looking statements as a result of risks and uncertainties, which include, without limitation,
risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the
proposed offering and other risks detailed in Precision’s filings with the Securities and Exchange Commission. You are cautioned
not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this cautionary statement, and Precision undertakes no obligation to
revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
Contacts:
Investor Relations
Bret Shapiro, Managing Partner
CORE IR
(516) 222-2560
brets@coreir.com
Media
Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com
