Scientific Industries, Inc. announced it has successfully secured approximately $1.6 million through a private placement. The offering involved the sale of 1,550,000 shares of the company's common stock at a purchase price of $1.00 per share, along with one warrant to purchase one share of common stock at an exercise price of $1.00 per share for a period of up to six months.
The capital raised from this private placement is designated to advance the company's Scientific Bioprocessing Inc. (SBI) DOTS Platform, a real-time bioprocessing system, and for general corporate use. This funding is critical for supporting the ongoing development and commercialization efforts of its innovative bioprocessing technologies.
Chairman John Moore stated that the company appreciates the continued support of its longstanding shareholders as it scales the DOTS platform. He also mentioned the upcoming launch of a first-in-class optical pH sensor and high-performance liquid injection system in the second half of 2025, which will further enhance the DOTS platform's capabilities.
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