Intelligent Bio Solutions raises $15 million in private placement
NEW YORK, Sept. 01, 2026 /CourierPR/ -- Intelligent Bio Solutions Inc., a medical technology company specializing in rapid, non-invasive testing solutions, has announced a significant private placement of up to $15 million in a single transaction with a major institutional investor, adhering to Nasdaq rules. The company plans to issue 2,036,659 shares of common stock, along with Series N-1 and Series N-2 warrants, each allowing the purchase of 2,036,659 shares of common stock. The transaction is priced at $2.455 per share, resulting in expected gross proceeds of approximately $5 million, net of fees.
The warrants, with an exercise price of $2.33 per share, will have varying terms. The Series N-1 warrants will be exercisable immediately upon issuance, while the Series N-2 warrants will be exercisable following stockholder approval and only after a registration statement is declared effective by the U.S. Securities and Exchange Commission (SEC). Both warrant types will have a term of five years post-SEC approval.
Subject to certain conditions, Intelligent Bio Solutions Inc. can call the Series N-1 warrants following the company’s public announcement of receiving 510(k) clearance from the U.S. Food and Drug Administration for its Intelligent Fingerprinting Drug Screening System. Ladenburg Thalmann & Co. Inc. is the exclusive placement agent for the private placement.
The private placement is scheduled to close on or about September 2, 2026, contingent upon the satisfaction of customary closing conditions. The company intends to use the net proceeds for working capital and general corporate purposes. Intelligent Bio Solutions Inc. has agreed to file an initial registration statement with the SEC to cover the resale of the shares and warrants within 15 calendar days of the agreement, with an aim to have it declared effective within 45 days.
The private placement follows the company’s focus on developing innovative, rapid, and non-invasive testing solutions. Intelligent Bio Solutions Inc. believes its Intelligent Fingerprinting Drug Screening System, which uses fingerprint sweat analysis, will revolutionize portable testing. This technology is designed to be both hygienic and cost-effective, screening for common workplace drugs such as opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, the technology is expected to be valuable for employers in safety-critical industries.
The company’s current customer segments outside the U.S. include construction, manufacturing, engineering, transport and logistics firms, mining, drug treatment organizations, and coroners. Intelligent Bio Solutions Inc. aims to secure regulatory clearance and commercialize its drug and diagnostic tests to achieve broader market penetration.
Forward-looking statements in this press release include the company’s expectations for the successful development and commercialization of its drug and diagnostic tests, regulatory clearance, and the potential market entry. Intelligent Bio Solutions Inc. cautions that actual results may differ from those anticipated, and the company undertakes no obligation to update these statements.