Ainos Announces Pricing of $3.3 Million Public Offering, Uplisting to NASDAQ, and Reverse Stock Split

SAN DIEGO, CA / ACCESSWIRE / August 8, 2022 / Ainos, Inc. (OTC PINK:AIMD) ("Ainos", or the "Company"), a diversified medtech company focused on the development of novel point-of-care testing, low-dose interferon therapeutics, and synthetic RNA-driven preventative medicine, today announced the pricing of its underwritten public offering of 780,000 units at a public offering price of $4.25 per unit. Each unit issued in the offering consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $4.25. The common stock and warrants are immediately separable and will be issued separately. The common stock and warrants are expected to begin trading on the Nasdaq Capital Market on August 9, 2022, under the symbols "AIMD" and "AIMDW," respectively. Ainos expects to receive gross proceeds of approximately $3.3 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In connection with the offering, the Company has effectuated a reverse split of its issued and outstanding common stock at a ratio of 1-for-15. The reverse stock split became effective at 8 p.m., Eastern Time, on August 8, 2022. The share numbers and pricing information in this release are adjusted to reflect the impact of the reverse stock split.

Ainos has granted the underwriters a 45-day option to purchase up to an additional 117,000 shares of common stock and/or up to an additional 117,000 warrants at the public offering price to cover over-allotments, if any. The offering is expected to close on August 11, 2022, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC is acting as co-manager for the offering.

The offering is being conducted pursuant to the Company's registration statement on Form S-1 (Registration No. 333-264527) that was previously filed with Securities and Exchange Commission ("SEC"), and declared effective on August 8, 2022. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at [phone].