Atlas Copco (PK) (USOTC:ATLRF)
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Aethlon Medical, Inc., (OTCBB:AEMD), a pioneer in developing therapeutic
devices for infectious disease, today announced it has entered into an
$8.4 million Common Stock Purchase Agreement with Fusion Capital Fund
II, LLC, a Chicago-based institutional investor. Under the agreement,
the Company has agreed to sell to Fusion Capital $400,000 of its common
stock on the date that a registration statement related to the
transaction is filed with the Securities and Exchange Commission (SEC).
The Company may sell an additional $8.0 million of common stock to
Fusion Capital from time to time over a 25-month period after the SEC
has declared effective the registration statement related to the
transaction. The proceeds will be used to advance the commercialization
of Aethlon’s Hemopurifier®
treatment technology.
Under the agreement, the Company has the right to sell shares of common
stock to Fusion Capital from time to time in amounts between $32,000 and
$1,000,000, depending on certain conditions, for up to $8.0 million of
additional funds. The purchase price of the shares will be based on the
prevailing market prices of the Company's shares at the time of sales
without any fixed discount, and the Company will control the timing and
amount of any sales of shares to Fusion Capital. Fusion Capital has
agreed not to engage in any direct or indirect short selling or hedging
of the common stock in any manner whatsoever. A more detailed
description of the transaction, as well as copies of the material
agreements, is set forth in the Company's Form 8-K filed today with the
SEC.
"We are pleased to renew our long standing relationship with Fusion
Capital," commented James A. Joyce, Aethlon Chairman and CEO. “The
agreement provides us with reasonable terms, the flexibility to execute
other transactions, and the ability to sell our shares to Fusion Capital
when we determine the share price is most advantageous for the Company,"
concluded Mr. Joyce.
About Aethlon Medical
Aethlon Medical has developed a first-in-class medical device to assist
in the treatment of infectious disease. The device, known as the
Hemopurifier®, is positioned to be a
broad-spectrum treatment for drug and vaccine resistant bioweapons,
naturally evolving pandemic threats, and chronic infectious disease
targets including Hepatitis-C (HCV) and the Human Immunodeficiency Virus
(HIV). On March 6, 2007, Aethlon submitted an Investigational Device
Exemption (IDE) to the U.S. Food and Drug Administration (FDA)
requesting permission to initiate human safety studies of the Aethlon
Hemopurifier® as a
treatment countermeasure against select category “A”
bioterror threats. Additional studies to demonstrate utility of the
Hemopurifier® as a
countermeasure against bioterror threats are being conducted with
researchers at The Centers for Disease Control and Prevention (CDC), The
United States Army Medical Research Institute of Infectious Diseases
(USAMRIID), and The Southwest Foundation for Biomedical Research (SFBR).
Category “A”
bioterror threats are defined by the CDC as agents that pose a risk to
national security; are easily disseminated or transmitted from person to
person; result in high mortality rates; may cause public panic and
social disruption, and require special action for public health
preparedness. Global researcher, Frost & Sullivan awarded the
Hemopurifier® the
2006 Technology Innovation Award, and The AIDS Institute presented
Aethlon with the 2007 Innovative HIV Life Sciences Leadership Award. The
Company has also initiated research on a second generation Hemopurifier®
that targets the capture of growth factors inherent in the spread of
Cancer. More information on Aethlon Medical and the HemopurifierTM
technology can be found at www.aethlonmedical.com.
Certain of the statements herein may be forward-looking and involve
risks and uncertainties. Such forward-looking statements involve
assumptions, known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
Aethlon Medical, Inc to be materially different from any future results,
performance, or achievements expressed or implied by the forward-looking
statements. Such potential risks and uncertainties include,
without limitation, the Company’s ability to
raise capital when needed, the Company’s
ability to complete the development of its planned products, the ability
of the Company to obtain FDA and other regulatory approvals permitting
the sale of its products, the Company’s
ability to manufacture its products and provide its services, the impact
of government regulations, patent protection on the Company’s
proprietary technology, product liability exposure, uncertainty of
market acceptance, competition, technological change, and other risk
factors. In such instances, actual results could differ materially as a
result of a variety of factors, including the risks associated with the
effect of changing economic conditions and other risk factors detailed
in the Company’s Securities and Exchange
Commission filings.