aibioIntelligent Bio Solutions places up to $15 million with one investor
Tickers INBS
The private placement brings about $5.0 million at closing, with a further $5 million tranche of warrants, and Ladenburg Thalmann & Co. Inc. acts as placement agent.
Key facts
- Company
- INTELLIGENT BIO SOLUTIONS INC. (NASDAQ: INBS)
- News type
- Financings
- Primary source
- INTELLIGENT BIO SOLUTIONS INC. 8-K (2026-09-02)
Intelligent Bio Solutions Inc. (Nasdaq: INBS) said in a release dated September 01, 2026 that it has signed a securities purchase agreement with a single existing institutional investor. The private placement is priced at-the-market under Nasdaq rules. The headline figure is up to $15 million, but the release describes only $5 million as paid at closing, with a $5 million tranche warrant that the company may call later.
The terms
The company agreed to issue 2,036,659 shares of common stock, or Series M pre-funded warrants in place of shares. The purchase price is $2.455 per share of common stock, or per pre-funded warrant, together with the associated warrants. The investor also receives Series N-1 warrants and Series N-2 warrants, each to purchase up to an aggregate of 2,036,659 shares of common stock.
Expected gross proceeds to the company are approximately $5.0 million, before placement agent fees and other offering expenses. The Series N-1 and Series N-2 warrants carry an exercise price of $2.33 per share. The Series N-1 warrants are exercisable immediately upon issuance. The Series N-2 warrants become exercisable upon stockholder approval. Each series has a term of five years after the related registration statement is declared effective by the Securities and Exchange Commission.
Subject to certain conditions, the company may call the Series N-1 warrants after it publicly announces that it has received 510(k) clearance from the U.S. Food and Drug Administration to market its Intelligent Fingerprinting Drug Screening System. The release does not say that clearance has been received, so that part of the money is not yet available.
Who is involved
Ladenburg Thalmann & Co. Inc. is the exclusive placement agent for the private placement. The release does not name legal counsel to the company or to the investor, and it does not name any other underwriter. The closing is expected on or about September 2, 2026, subject to customary closing conditions. The company intends to use the net proceeds for working capital and general corporate purposes.
The company must file a resale registration statement covering the shares and warrant shares within 15 calendar days of the agreement, and use best efforts to have it declared effective within 45 days.
The company and its business
Intelligent Bio Solutions describes itself as a medical technology company delivering intelligent, rapid, non-invasive testing solutions. Its Intelligent Fingerprinting Drug Screening System analyzes fingerprint sweat. The release says the test screens for recent use of opiates, cocaine, methamphetamine and cannabis, with results in under ten minutes.
The annual report says the company has developed a point of care drug screening test system and a laboratory-based confirmation testing service, and that both involve collecting fingerprint sweat samples. The annual report also states that development of its biosensor platform has been postponed while licensing arrangements for that technology remain unresolved after the liquidation of a licensor company began in July 2023.
Financial position
The XBRL data in the annual report show a net loss of $12.4 million for the fiscal year ended June 30, 2026, compared with $10.6 million for the year ended June 30, 2025. Cash used in operations was $11.9 million in fiscal 2026, compared with $9.7 million in fiscal 2025.
Cash and cash equivalents were $4.0 million at June 30, 2026, compared with $1.0 million at June 30, 2025. The $5.0 million expected at closing sits against $11.9 million of cash used in operations in fiscal 2026, and the net loss widened. The company is issuing 2,036,659 shares and two warrants that each cover up to as many again, so the share count could rise well beyond the shares sold today. The investor buys at $2.455 and can exercise at $2.33. The release does not give a cash balance after the placement closes.
What comes next
The company expects the placement to close on or about September 2, 2026. The release states that the call right depends on a 510(k) clearance announcement and that the Series N-2 warrants need stockholder approval. No date is given for either event, and the release does not say whether the application has been filed.