Amesite Increases Previously Announced Public Offering of Common Stock

Rhea-AI Summary

Amesite Inc. (Nasdaq: AMST) announced an increase in its public offering of common stock to 3,750,000 shares at $0.80 per share, aiming to raise approximately $3 million. The offering, managed by Laidlaw & Company, is expected to close on or about February 16, 2022. Proceeds will be utilized for general corporate activities, including capital expenditures and working capital. This follows a previously effective registration statement with the SEC. The company focuses on AI-driven online learning solutions for various sectors, enhancing its growth potential in the education technology space.

Positive

• Increased public offering size to 3,750,000 shares, reflecting strong demand.
• Estimated gross proceeds of approximately $3 million will support capital expenditures and working capital.

Negative

• Issuing additional shares may lead to shareholder dilution.

DETROIT, Feb. 14, 2022 /PRNewswire/ -- Amesite Inc. (Nasdaq: AMST) ("Amesite" or the "Company"), a leading artificial intelligence software company offering a cloud-based learning platform and content creation services for business, university, nonprofit, and government agency learning and upskilling, today announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a best efforts basis 3,750,000, shares of common  stock of the Company at a price to the public of $0.80 per share, before underwriting discounts and commissions. The closing of the offering is expected to occur on or about February 16, 2022, subject to the satisfaction of customary closing conditions.

Laidlaw & Company (UK) Ltd. is acting as sole book-running manager for the offering.

The gross proceeds of the offering are expected to be approximately $3 million. Amesite intends to use the net proceeds from the offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

A shelf registration statement on Form S-3 (Registration No. 333-260666) relating to the public offering of the shares of common stock described above was previously filed with the Securities and Exchange Commission (SEC) and declared effective on November 5, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from Laidlaw & Company (UK) Ltd., 521 Fifth Ave., 12^th Floor, New York, NY 10175, Attention: Syndicate Dept.; email: syndicate@laidlawltd.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.

About Amesite Inc.

Amesite delivers the world's most effective online learning systems for employees, students, and job seekers. Artificial intelligence drives the platform: Amesite delivers clean, accessible interfaces, best-in-class technology, and unparalleled scalability and integration capabilities. Our partners give us the best reviews in the industry, with customer-branded learning community environments that integrate with your existing tools – and deliver outstanding results. The future of learning is here: Amesite delivers systems for businesses, universities, non-profits, and government agencies, branded to you, in as little as 24h. For more information, visit https://amesite.com/.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
CORE IR
info@amesite.com
516-222-2560

Media Contact:
Jules Abraham
Julesa@COREIR.com

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SOURCE Amesite

FAQ

What is the size of Amesite's public offering?

Amesite is offering 3,750,000 shares of common stock.

At what price are the shares being offered?

The shares are being offered at a price of $0.80 per share.

What are the expected proceeds from the offering?

The gross proceeds are expected to be approximately $3 million.

When is the closing date for Amesite's public offering?

The closing of the offering is expected to occur on or about February 16, 2022.

How will Amesite use the proceeds from the stock offering?

The proceeds will be used for general corporate purposes, capital expenditures, and working capital.