LAS
VEGAS, March 24, 2023 /PRNewswire/ -- JanOne
(Nasdaq: JAN), a biopharmaceutical company specializing in
developing non-addicting pain killers and treatments for underlying
causes of pain, today announced the
closing of its previously announced
registered direct offering of 361,000 shares of
the Company's common stock at a purchase
price of $1.17 per share of common
stock priced at-the-market under Nasdaq rules.
H.C. Wainwright & Co. acted
as the exclusive placement agent
for the offering.
The gross proceeds to the Company from the offering were
approximately $422,000, before
deducting the placement agent's fees and other offering expenses
payable by the Company. The Company intends to use the net proceeds
from this offering for working capital and general corporate
purposes.
The shares of common stock described above were offered by the
Company pursuant to a "shelf" registration statement on Form S-3
(File No. 333-251645) previously filed with the Securities and
Exchange Commission (the "SEC") and declared effective by the SEC
on December 29, 2020. The offering of
the shares of common stock was made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. A final prospectus supplement and
accompanying prospectus relating to the registered direct offering
was filed with the SEC. Electronic copies of the final prospectus
supplement and accompanying prospectus may be obtained on the SEC's
website at http://www.sec.gov or by contacting H.C. Wainwright
& Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 865-5711
or e-mail at placements@hcwco.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor
shall there be any sale of
these securities in any state or other jurisdiction in
which
such offer, solicitation or sale would be unlawful
prior to the registration or qualification under
the securities laws of any such state or other jurisdiction.
About JanOne Inc.
JanOne is a unique Nasdaq-listed company offering innovative,
actionable solutions that it believes can help end the opioid
crisis. JanOne is dedicated to funding resources toward innovation,
technology, and education to find a key resolution to the national
opioid epidemic, which is one of the deadliest and most widespread
in the nation's history. Its drugs in the clinical trial pipeline
have shown promise for their innovative targeting of the causes of
pain as a strategic option for physicians averse to exposing
patients to addictive opioids. Please visit www.janone.com for
additional information.
Forward-Looking Statements
This press release contains statements that are forward-looking
statements as defined within the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements
relating to the anticipated use of proceeds from the
offering, as well as statements relating to the statements that JAN
101 will treat PAD, that JAN 123 will treat CRPS, the timing of the
commencement of further clinical trials, that the FDA will permit
approval through a 505(b)(2) pathway for JAN 123, that upon
approval JAN 101 will immediately disrupt the PAD market, and other
statements, including words such as "continue", "expect", "intend",
"will", "hope" "should", "would", "may", "potential" and other
similar expressions. Such statements reflect JanOne's current
view with respect to future events, are subject to risks and
uncertainties, including market and other conditions, and are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by JanOne, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause JanOne's
actual results, performance or achievements to be materially
different from any future results, performance or achievements
described in this press release. Such factors could include, among
others, those detailed in the Company's periodic reports filed with
the Securities and Exchange Commission (the "SEC").
Should one or more of these risks or uncertainties materialize,
or should the assumptions set out in the section entitled "Risk
Factors" in JanOne's filings with the SEC underlying those
forward-looking statements prove incorrect, actual results may vary
materially from those described herein. These forward-looking
statements are made as of the date of this press release and JanOne
does not intend, and does not assume any obligation, to update
these forward-looking statements, except as required by law. JanOne
cannot assure that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Individuals are cautioned that
forward-looking statements are not guarantees of future performance
and accordingly investors are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty
therein.
Media Contact
Investor Relations
IR@janone.com
1-800-400-2247
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SOURCE JanOne Inc.