Novo Integrated Sciences, Inc announces pricing of $2M public offering

Novo Integrated Sciences, Inc., today announced the pricing of its public offering of an aggregate of 4,000,000 units at a public offering price of $0.50 per unit. Each unit consists of (i) one share of common stock (or one pre-funded warrant in lieu thereof), (ii) one warrant to purchase one share of common stock, immediately exercisable at a price of $0.50 per share and expiring five years from the date of issuance, and (iii) one warrant to purchase one share of common stock, immediately exercisable at a price of $0.50 per share and expiring three years from the date of issuance, which will immediately separate upon issuance. The closing of the offering is expected to occur on or about October 18, 2022, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $2.0 million. The Company intends to use the net proceeds of the offering for the repayment of debt and general corporate purposes, including for potential future strategic acquisitions.

Maxim Group LLC is acting as the exclusive placement agent for the offering.

Anthony L.G., PLLC is acting as legal counsel to Novo Integrated Sciences, Inc. and Harter Secrest & Emery LLP is acting as legal counsel to Maxim Group LLC.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. (333-267401), which was declared effective by the Securities and Exchange Commission (the “SEC”) on October 13, 2022. The offering is being made only by means of a prospectus which is a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Copies of the final prospectus relating to this offering, when available, will be 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. Business Wire