APDN Files for Resale of 41.6 Million Shares by Selling Stockholders

MT Newswires Live11-19 23:57

Applied DNA Sciences (APDN) filed a registration statement with the US Securities and Exchange Commission Monday covering the potential resale of up to 41.6 million common shares of the company by certain stockholders.

The selling stockholders may acquire the shares upon the exercise of certain outstanding warrants, the company said in a regulatory filing.

Applied DNA said it will not receive any proceeds from the shares offered by the selling stockholders. However, it will receive proceeds of any cash exercise of certain private placement warrants, with such proceeds to go toward further development of its therapeutic DNA production services, among other uses.

The company's shares were down 3% in recent trading.

Price: 0.16, Change: -0.01, Percent Change: -2.95

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