Full Press Release Details
Atossa Genetics Announces $10 Million
Common Stock Purchase Agreement with
Aspire Capital Fund, LLC
SEATTLE, WA -- May 27, 2016 -- Atossa Genetics,
Inc. (NASDAQ: ATOS) today announced that it has entered into a $10 million stock purchase agreement with Aspire Capital Fund, LLC.
Under terms of the agreement, after the SEC declares the registration statement related to the transaction effective, Aspire has
committed to purchase up to $10 million of Atossa's common stock over 30 months, based on prevailing market prices over a period
preceding each sale.
"Aspire Capital has been an important financial partner
over the past three years and we look forward to continuing our work together to execute on our business objectives," stated
Kyle Guse, Chief Financial Officer of Atossa Genetics. "This financial arrangement will provide us with the financial resources
and flexibility so that we can raise equity based on favorable market conditions and our evolving working capital needs."
"We are very pleased to continue our financial relationship
with Atossa," said Steve Martin, Principal of Aspire Capital. "We are very excited about Atossa's Phase II clinical
program and are happy to be part of Atossa's progress."
Key aspects of the agreement with Aspire Capital include:
Atossa will use the net proceeds from the sales of common stock
for general corporate purposes and working capital requirements.
Atossa also entered into a registration rights agreement with
Aspire Capital in connection with its entry into the purchase agreement that requires the Company to file a registration statement
regarding the shares sold to Aspire Capital. A more complete and detailed description of the agreement is set forth in the Company's
Periodic Report on Form 8-K filed today with the U.S. Securities and Exchange Commission.
About Aspire Capital Fund, LLC
Aspire Capital is an institutional investor based in Chicago,
Illinois, with a fundamental investment approach. Aspire Capital invests in a wide range of companies and industries emphasizing
life sciences, energy and technology.
About Atossa Genetics
Atossa Genetics, Inc. is a clinical-stage pharmaceutical company
developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions. For more information, please
visit www.atossagenetics.com.
Forward-Looking Statements
Forward-looking statements in this press release, which Atossa
undertakes no obligation to update, are subject to risks and uncertainties that may cause actual results to differ materially from
the anticipated or estimated future results, including the risks and uncertainties associated with actions and inactions by the
FDA, the outcome or timing of regulatory approvals needed by Atossa, lower than anticipated rate of patient enrollment, results
of clinical studies, the safety and efficacy of Atossa's products and services, performance of clinical research organizations
and investigators, obstacles resulting from proprietary rights held by others, such as patent rights, and other risks detailed
from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its periodic reports
on Form 10-K and 10-Q, each as amended and supplemented from time to time.
Atossa Genetics Company Contact:
Atossa Genetics Inc.
CFO and General Counsel
Investor Relations Contact: