SNOA Prices $4.0M Public Offering; Expects $3.5M Net Proceeds

Key Highlights

• Public offering priced at $1.35 per unit, raising approximately $4.0 million in gross proceeds.
• Company expects approximately $3.5 million in net proceeds after deducting offering expenses.
• Offering included 2,962,962 units, each with common stock (or pre-funded warrant) and a common stock warrant.
• The 45-day over-allotment option for 444,444 additional shares/warrants was fully exercised.
• Issued 1,650,716 common shares, 1,312,247 pre-funded warrants, and 3,407,404 warrants.
• Underwriter, Dawson James Securities, received a 7.5% fee and a 1% non-accountable expense allowance.
• Net proceeds will be used for general corporate purposes, including working capital.
• Company and insiders are subject to a 90-day lock-up period following the offering close.