Amesite Inc. raised approximately $3.6 million through a public offering of 1,201,667 shares at $3.00 each.
Quiver AI Summary
Amesite Inc. announced the successful closure of its underwritten public offering, selling 1,201,667 shares of common stock at $3.00 per share, raising approximately $3.6 million. Significant participation from the company's officers and directors accounted for about $1.26 million of the total offering. The funds will be used for various corporate purposes, including working capital and capital expenditures. The offering was managed by Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC, with a registration statement previously filed with the SEC. The company specializes in AI-driven solutions for both B2C and B2B markets, including its mobile app NurseMagic™ designed for health and care professionals. The press release also contains forward-looking statements regarding the company's future plans and risks.
Potential Positives
- Amesite Inc. successfully closed a public offering of 1,201,667 shares, generating approximately $3.6 million, which can enhance financial stability and support future growth initiatives.
- Participation by certain officers and directors in the offering, amounting to approximately $1.26 million, demonstrates strong internal confidence in the company's direction and performance.
- The funds raised will be utilized for general corporate purposes, including capital expenditures and working capital, providing flexibility for strategic investments and operational needs.
- The press release highlights Amesite's innovative solutions like NurseMagic™, showcasing the company’s commitment to leveraging AI-driven technology within the healthcare sector, which can enhance market interest and relevance.
Potential Negatives
- The offering price of $3.00 per share represents a significant discount from the company's current trading levels, potentially signaling weakness in investor confidence.
- The fact that a large portion of the offering was subscribed by officers and directors may raise concerns about the company's reliance on insider investment, suggesting a lack of broad market interest.
- The relatively small amount raised ($3.6 million) may be insufficient for the company to effectively execute its planned corporate objectives, potentially hindering future growth initiatives.
FAQ
What is Amesite Inc.'s recent public offering?
Amesite Inc. recently closed an underwritten public offering of 1,201,667 shares at $3.00 per share, totaling approximately $3.6 million.
Who managed Amesite's recent public offering?
Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC served as joint book-running managers for the offering.
How will Amesite Inc. use the proceeds from the offering?
The proceeds will be used for general corporate purposes, capital expenditures, working capital, and administrative expenses.
Where can I find more information about Amesite's public offering?
More information is available in the preliminary prospectus supplement filed with the SEC, accessible at www.sec.gov.
What products does Amesite Inc. offer?
Amesite specializes in AI-driven solutions, including NurseMagic™, a mobile app designed for health and care professionals.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AMST Hedge Fund Activity
We have seen 4 institutional investors add shares of $AMST stock to their portfolio, and 2 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CITADEL ADVISORS LLC removed 12,143 shares (-100.0%) from their portfolio in Q3 2024
- JPMORGAN CHASE & CO added 5,904 shares (+inf%) to their portfolio in Q3 2024
- UBS GROUP AG added 914 shares (+167.1%) to their portfolio in Q3 2024
- TOWER RESEARCH CAPITAL LLC (TRC) removed 649 shares (-53.9%) from their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 376 shares (+2.7%) to their portfolio in Q3 2024
- BANK OF AMERICA CORP /DE/ added 1 shares (+0.6%) to their portfolio in Q3 2024
- ZUCKERMAN INVESTMENT GROUP, LLC added 0 shares (+0.0%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DETROIT, Jan. 08, 2025 (GLOBE NEWSWIRE) --
Amesite Inc
. (Nasdaq: AMST), a pioneering technology company specializing in the development and marketing of B2C and B2B AI-driven solutions, today announced the closing of its “best efforts” underwritten public offering of 1,201,667 shares of its common stock at a public offering price of $3.00 per share, before underwriting discounts and commissions, for an aggregate offering of approximately $3.6 million. Certain officers and directors of the Company participated in the offering for aggregate subscriptions of approximately $1.26 million.
Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC acted as joint book-running managers for the offering.
The Company 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. 333-282999) relating to the public offering of the securities described above was previously filed with the Securities and Exchange Commission (SEC) and declared effective on December 18, 2024. A preliminary prospectus supplement and accompanying prospectus relating to the underwritten public offering was filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement 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 Inc. (Nasdaq: AMST) is a pioneering technology company specializing in the development and marketing of B2C and B2B AI-driven solutions. Leveraging its proprietary AI infrastructure, Amesite offers cutting-edge applications that cater to both individual and professional needs. NurseMagic™, the company’s mobile app for health and care professionals, streamlines creation of nursing notes and documentation tasks, enhances patient communication, and offers personalized guidance to nurses on patient care, medications, and handling challenging workplace situations.
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 anticipated public offering, 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
MJ Clyburn
TraDigital IR
clyburn@tradigitalir.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
