Intelligent Bio slumps after proposed public offering

Intelligent Bio Solutions

08/03/2023 12:36

** Shares of diagnostic tests developer Intelligent Bio
Solutions Inc  INBS.O  fall ~45% to $3.25 premarket    
    ** Co announces public offering of shares of its common
stock and warrants
    ** INBS has 916,265 shares outstanding - Refinitiv data 
    ** Co had cash and cash equivalents of $2.9 mln as of Dec.
31, 2022 
    ** Ladenburg Thalmann & Co Inc is acting as the sole
bookrunning manager for the offering - INBS 
    ** INBS shares have fallen ~39% in the past six months

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))