Novo Integrated Sciences, Inc. Announces Pricing of $2.0 Million Public Offering

Oct 14, 2022

Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the "Company" or "Novo"), today announced the pricing of its public offering of an aggregate of 4,000,000 units at a public offering price of $0.50 per unit. Each unit consists of (i) one share of common stock (or one pre-funded warrant in lieu thereof), (ii) one warrant to purchase one share of common stock, immediately exercisable at a price of $0.50 per share and expiring five years from the date of issuance, and (iii) one warrant to purchase one share of common stock, immediately exercisable at a price of $0.50 per share and expiring three years from the date of issuance, which will immediately separate upon issuance. The closing of the offering is expected to occur on or about October 18, 2022, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $2.0 million. The Company intends to use the net proceeds of the offering for the repayment of debt and general corporate purposes, including for potential future strategic acquisitions.

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