Aikido Pharma Inc AIKI:NASDAQ

AIkido Pharma Inc. closed its previously announced registered direct offering with certain institutional investors of 11,000 shares of Series O and 11,000 shares of Series P redeemable convertible preferred stock.

Each share of Series O and Series P preferred stock has a purchase price of $952.38, and is convertible into shares of AIkido's common stock at an initial conversion price of $1.00 per share.

The company said Wednesday that it expects total net proceeds from the offerings to be approximately $20.9 million, which it plans to use for working capital and general corporate purposes.

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

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