Apyx Medical to sell 3M shares at $1.18 in registered direct offering

Apyx Medical (APYX) has entered into a definitive purchase agreement with Nantahala Capital for the purchase and sale in a registered direct offering of 3,000,000 shares of the Company’s common stock at a purchase price of $1.18 per share and pre-funded warrants to purchase up to 2,934,690 shares of the Company’s common stock at a purchase price of $1.179 per pre-funded warrant. The gross proceeds to Apyx Medical from the offering were approximately $7,000,000, before deducting offering expenses payable by the Company. The offering closed on November 8, 2024. The purchase price of $1.18 per share of common stock was calculated using the average closing price of the Company’s common stock on the Nasdaq Global Select Market for the five trading days prior to market close on November 7, 2024. The Company did not use a placement agent in connection with the offering. Apyx Medical intends to use the proceeds from the offering for working capital and other general corporate purposes.