Applied DNA Sciences’ $15 Million Right Offering


Troutman Pepper Hamilton Sanders LLP advised Applied DNA Sciences, Inc. on the deal.

Applied DNA Sciences, Inc. (NASDAQ: APDN), a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing, closed its registered direct offering with a group of institutional investors for 1.81 million shares of common stock at a price of $8.30 per share.

Applied DNA produces large quantities of DNA for use in nucleic acid-based in vitro medical diagnostics and preclinical nucleic acid-based drug development and manufacturing markets and for supply chain security, anti-counterfeiting and anti-theft technology purposes. The FDA recently announced that Applied DNA’s Linea™ COVID-19 Assay Kit, a PCR-based molecular diagnostic test for COVID-19, was one of only two tests marketed under an Emergency Use Authorization that are potentially able to identify certain COVID-19 mutations.

Troutman Pepper Partner Merrill Kraines (Picture) and Counsel Todd Kornfeld led a team consisting of Partner Judy O’Grady and Associates Dean Longfield, Ty Akkoyun and Echo Wang in representing Applied DNA throughout the offering.

Involved fees earner: Cagatay Akkoyun – Troutman Pepper Hamilton Sanders LLP; Todd Kornfeld – Troutman Pepper Hamilton Sanders LLP; Merrill Kraines – Troutman Pepper Hamilton Sanders LLP; Judith O’Grady – Troutman Pepper Hamilton Sanders LLP; Kai Xi Wang – Troutman Pepper Hamilton Sanders LLP; Dean Longfield – Troutman Sanders;

Law Firms: Troutman Pepper Hamilton Sanders LLP; Troutman Sanders;

Clients: Applied DNA Sciences;

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Author: Ambrogio Visconti