On August 9, 2022 Applied DNA Sciences, Inc. (NASDAQ: APDN) (the "Company"), a leader in polymerase chain reaction ("PCR")-based technologies, reported that it has received approximately $3.6 million in net proceeds following an exercise of Series B warrants by an institutional investor in the Company (Press release, Applied DNA Sciences, AUG 9, 2022, View Source [SID1234617859]).

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The Series B warrants exercised were issued in connection with a public offering that closed on August 8, 2022. Each Series B warrant entitles its owner to purchase one share of common stock in the Company at a per share price of $4.00 until September 8, 2023. 2.1 million Series B warrants associated with the August 8, 2022, offering remain outstanding. Series A warrants were also issued in connection with the public offering that closed on August 8, 2022. All 3.0 million Series A warrants remain outstanding until August 9, 2027.