Thorofare, New Jersey (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (NASDAQ: AKER), today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 1,207,744 shares of the Company’s common stock, at a purchase price of $5.67 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about August 13, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds to the Company from this offering are expected to be approximately $6.8 million, before deducting the placement agent’s fees and other offering expenses payable by the Company.

About Akers Biosciences Inc.

Akers Biosciences is pursuing the development of a newly acquired license to a coronavirus vaccine candidate.