Applied DNA Announces Closing of Upsized $12 Million Public Offering

Applied DNA Sciences, Inc., (NASDAQ: APDN) (the “Company” or “Applied DNA”), a leader in polymerase chain reaction ("PCR")-based technologies, today announced the closing of its previously announced public offering of 3,000,000 shares of its common stock (or common stock equivalents in lieu thereof), together with Series A warrants to purchase up to 3,000,000 shares of its common stock and Series B warrants to purchase up to 3,000,000 shares of its common stock at a combined offering price to the public of $4.00 per share (or common stock equivalent) and associated warrants, priced at a premium to market under Nasdaq rules. The gross proceeds to the Company from the offering were $12 million before deducting the placement agent’s fees and other offering expenses payable by the Company.

The Series A warrants have an exercise price of $4.00 per share, are exercisable immediately upon issuance, and expire five years following the date of issuance. The Series B warrants have an exercise price of $4.00 per share, are exercisable immediately upon issuance and expire thirteen months following the date of issuance.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The offering was conducted pursuant to the Company’s registration statement on Form S-1 (File No. 333-266223) previously filed with the Securities and Exchange Commission (SEC), which became effective on August 4, 2022, and an additional registration statement filed pursuant to Rule 462(b) which became automatically effective on August 4, 2022. The offering was made only by means of a prospectus, which is part of the effective registration statements. Electronic copies of the final prospectus may be obtained for free on the SEC’s website located at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at [phone] or e-mail at [e-mail].

This press release does not constitute an offer to sell or the 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 an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Applied DNA Sciences

Applied DNA Sciences is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid ("DNA"). Using PCR to enable both the production and detection of DNA, we operate in three primary business markets: (i) the manufacture of DNA for use in nucleic acid-based therapeutics; (ii) the detection of DNA in molecular diagnostics testing services; and (iii) the manufacture and detection of DNA for industrial supply chain security services.