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Firm Represents Client Directview Holdings, Inc. in Negotiation and Restructuring of $9,000,000 of Debt, Potentially Cancelling $6,000,000 of Debt

October 15, 2019

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Lucosky Brookman Represents Akers Biosciences, Inc., in $6 Million Registered Offering

January 4, 2018

Lucosky Brookman congratulates its client, Akers Biosciences, Inc. (OTC: AKER), a developer of rapid health information technologies.  On December 21, 2017 the Company closed on a public offering of $6 million issuing an aggregate of (i) 15,500,000 Class A Units consisting of an aggregate of 15,500,000 shares of its common stock, no par value per share (the “Common Stock”), and warrants to purchase an aggregate of 15,500,000 shares of Common Stock, at a public offering price of $0.15 per unit, and (ii) 3,675 Class B Units consisting of an aggregate of 3,675 shares of its Series B Convertible Preferred Stock, with a stated value of $1,000, and convertible into an aggregate of 24,500,000 shares of Common Stock, and warrants to purchase an aggregate of 24,500,000 shares of Common Stock, at a public offering price of $1,000 per unit.

 

The warrants have an exercise price of $0.1875 per share, are exercisable upon issuance and will expire on December 21, 2022.

 

The net proceeds of the offering are expected to be used for sales and marketing, research and development, and for working capital and for general corporate purposes.

 

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