Aclarion Announces Closing of $3.0 Million Public Offering

Rhea-AI Summary

Aclarion, Inc. closes public offering of 5,175,000 units, raising approximately $3.0 million. Each unit sold at $0.58 includes one share of common stock (or pre-funded warrant), and two common warrants. The common warrants are exercisable at $0.58 per share and expire in five years. Maxim Group LLC acted as the sole placement agent. The offering was made under a registration statement declared effective by the SEC.

Insights

Financial Analyst

The recent public offering by Aclarion, Inc. indicates a strategic move to raise capital, likely aimed at funding ongoing operations, research and development, or potential expansion. The offering of over 5 million units at $0.58 each, with the inclusion of common warrants exercisable at the same price, is a critical injection of approximately $3 million in gross proceeds. This capital infusion is vital for a healthcare technology firm like Aclarion, which operates in a capital-intensive industry.

Investors should note the immediate exercisability of the warrants, which could lead to further dilution of shares if exercised, potentially impacting the stock's value. However, the five-year expiration on the warrants provides a long-term horizon for investors to gauge the company's performance. Maxim Group LLC's role as the sole placement agent suggests confidence in Aclarion's prospects, as such firms typically undertake due diligence before associating with an offering.

It is also important to consider the offering's timing and pricing strategy. The price of $0.58 per unit may reflect current market conditions and investor appetite for risk, particularly in the biotech sector. The offering's success and the subsequent deployment of the raised funds will be critical in determining Aclarion's financial health and future prospects.

Market Research Analyst

Aclarion's focus on chronic low back pain, a condition affecting a significant portion of the population, underscores the potential market for their healthcare technology solutions. The capital raised could enable the company to enhance their product offerings, invest in marketing strategies, or scale operations to meet market demands.

The healthcare technology sector is highly competitive, with continuous innovation being a key driver of success. Aclarion's use of biomarkers and proprietary augmented intelligence algorithms positions them in a niche market, which could be advantageous if their technology proves effective and gains widespread adoption among physicians. However, the market's response to the public offering and the performance of Aclarion's stock will ultimately depend on the company's ability to deliver on its technological promises and effectively manage the newly acquired capital.

Market trends also suggest that investors are increasingly interested in healthcare technologies due to the sector's resilience and growth potential, especially in the wake of global health challenges. Aclarion's progress in this offering could be an indicator of market sentiment towards innovative healthcare solutions.

Legal Expert

The offering's adherence to regulatory requirements, as evidenced by the SEC's effective declaration of the Registration Statement, is a critical aspect for investor confidence. The registration on Form S-1 and the involvement of the SEC ensure that Aclarion has met the necessary legal disclosures and compliance measures, which are essential for the protection of investors.

Furthermore, the clear statement that the press release does not constitute an offer to sell or a solicitation of an offer to buy securities and the mention of the securities laws of various jurisdictions, demonstrates Aclarion's commitment to legal transparency and adherence to securities regulations. This level of compliance is crucial for the company's reputation and investor relations, as it minimizes the risk of legal complications that could arise from the offering.

Interested parties are directed to obtain the final prospectus from Maxim Group LLC, which would provide comprehensive details of the offering, including risk factors and the company's financial statements. This transparency is key in enabling investors to make informed decisions.

BROOMFIELD, CO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire - Aclarion, Inc. (“Aclarion” or the “Company”) (Nasdaq: ACON, ACONW), a healthcare technology company that is leveraging biomarkers and proprietary augmented intelligence algorithms to help physicians identify the location of chronic low back pain, today announced the closing of its public offering of 5,175,000 units, with each unit consisting of one share of common stock (or one pre-funded warrant in lieu thereof), and two common warrants, with each common warrant to purchase one share of common stock.  Each unit was sold at a public offering price of $0.58. The common warrants are immediately exercisable at a price of $0.58 per share and expire five years from the date of issuance. The shares of common stock (or pre-funded warrants in lieu thereof) and accompanying warrants were only purchasable together in this offering, but were issued separately and immediately separable upon issuance.

Gross proceeds, before deducting placement agent fees and other offering expenses, are approximately $3.0 million.

Maxim Group LLC acted as sole placement agent in connection with this offering.

The securities described above were offered pursuant to a registration statement on Form S-1, as amended (File No. 333-275989) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the "SEC") on February 26, 2024. The offering was made only by means of a prospectus which is a part of the Registration Statement. A copy of the final prospectus relating to the offering has been filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Aclarion, Inc.

Aclarion is a healthcare technology company that leverages Magnetic Resonance Spectroscopy (“MRS”), proprietary signal processing techniques, biomarkers, and augmented intelligence algorithms to optimize clinical treatments. The Company is first addressing the chronic low back pain market with Nociscan, the first, evidence-supported, SaaS platform to noninvasively help physicians distinguish between painful and nonpainful discs in the lumbar spine. Through a cloud connection, Nociscan receives magnetic resonance spectroscopy (MRS) data from an MRI machine for each lumbar disc being evaluated. In the cloud, proprietary signal processing techniques extract and quantify chemical biomarkers demonstrated to be associated with disc pain. Biomarker data is entered into proprietary algorithms to indicate if a disc may be a source of pain. When used with other diagnostic tools, Nociscan provides critical insights into the location of a patient’s low back pain, giving physicians clarity to optimize treatment strategies. For more information, please visit www.aclarion.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company’s current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as “anticipates,” “believes” and “expects” or similar expressions, are forward-looking statements.

All of our forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company’s current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled “Risk Factors” in the Registration Statement, as well as other disclosures contained in such Registration Statement and the Company’s other filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contacts:
Kirin M. Smith
PCG Advisory, Inc.
646.823.8656
ksmith@pcgadvisory.com

Media Contacts:
Jodi Lamberti
SPRIG Consulting
612.812.7477
jodi@sprigconsulting.com

FAQ

What is the total number of units in Aclarion, Inc.'s public offering?

Aclarion, Inc. closed a public offering of 5,175,000 units.

How much did each unit in Aclarion, Inc.'s public offering sell for?

Each unit in the public offering was sold at a price of $0.58.

Who acted as the sole placement agent for Aclarion, Inc.'s public offering?

Maxim Group LLC acted as the sole placement agent for the public offering.

What is the expiration period for the common warrants in Aclarion, Inc.'s public offering?

The common warrants in the public offering are exercisable at $0.58 per share and expire in five years.

How much did Aclarion, Inc. raise in gross proceeds from the public offering?

Aclarion, Inc. raised approximately $3.0 million in gross proceeds from the public offering.