Information Analysis Announces $10,000,000 Equity Financing

IAI announced it has obtained subscriptions for the sale of 3,289,525 Units at a price of $3.04 per Unit in a private investment in public equity financing (“PIPE”). Each Unit consists of a share of $0.01 par value common stock of the Company (“Common Stock”) and the right to receive a warrant exercisable for .20 shares of common stock which equates to one share for every five Units purchased. Each such warrant is exercisable commencing January 1, 2023 through December 31, 2026 at a price of $4.50 for each whole share. The price per Unit was determined using the 5-day Volume Weighted Average Price from November 26, 2021 to and including December 2, 2021.  Proceeds will be used to fund acquisition of Gray Matters and Aggressive Growth of Blockchain-Based Secure Supply Chain Technology. Please see the related press release under the “News” section on this website.