Full Press Release Details
Scientific Inc. Completes $2.15 Million Private Placement
Strengthens Balance Sheet and Supports Commercial Growth Strategy; Backed by Long-Term Investors Including CEO and Chairman of the Board
N.J., April 21, 2026 (GLOBE NEWSWIRE) - Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery
instruments that provide painless and precise injections, today announced the closing of a $2.15 million private placement of common
stock and warrants, and an additional $2.69 million if cash warrants are fully exercised.
we strengthened our balance sheet and positioned the company to capitalize on the increasing demand we are seeing across our product
platforms," said Eric Hines, Chief Executive Officer of Milestone Scientific. "This financing allows us to build on our progress,
scaling investment in sales, inventory and digital marketing, while maintaining our continued focus on cost discipline."
participation from long-term investors and members of the Board, myself included, represents a strong endorsement of our technology and
the direction of this Company."
Company entered into a securities purchase agreement with a group of investors for the private placement of 7,962,963 units at a price
of $0.27 per unit. Each unit consists of one share of common stock and one corresponding cash warrant at 125% of purchase price. The
offering generated $2.15 million in gross proceeds, comprised of approximately $1.80 million in cash and approximately $351,000 from
the conversion of convertible bridge notes previously issued to certain directors and officers who had made loans to the Company in 2025.
No placement agent was used, and accordingly no placement or underwriting discounts, commissions, or other fees were paid.
directors and officers participated in the offering on the same terms as all other investors, purchasing an aggregate of $150,000 of
units for cash in addition to the bridge note conversions described above.
Private Placement was conducted in accordance with applicable NYSE American rules and closed on April 20, 2026. Additional details regarding
the transaction, including the securities purchase agreement and form of warrant, are set forth in the Company's Current Report
on Form 8-K filed with the Securities and Exchange Commission. Investors are encouraged to review the 8-K for a complete description
of the terms and conditions of the offering.
Milestone Scientific Inc.
Scientific Inc. (MLSS) is a technology-focused medical research and development company that patents, designs, and develops innovative
injection technologies and instruments for medical and dental applications. Milestone Scientific's computer-controlled systems
are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic
Pressure Sensing Technology instruments is the platform to advance the development of next-generation devices, regulating flow rate
and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic.
To learn more, view the MLSS brand video or visit milestonescientific.com.
press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement
its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and
uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future
business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are
beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated
by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating
expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards,
and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including
without limitation, Milestone's Annual Report for the year ended December 31, 2025. The forward-looking statements in this press
release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update
publicly any forward-looking statements for any reason. Coding and payment decisions are determined solely by providers and payers based
on applicable laws and policies. Any potential Category I designation is determined solely by the American Medical Association and is
not guaranteed. Providers remain responsible for compliance with all applicable billing, coding, and regulatory requirements. Forward-looking
case submission expectations, reimbursement targets, and revenue estimates referenced herein are based on current program enrollment,
advisor commitments, and historical payer activity, and are subject to change based on clinical scheduling, payer processing timelines,
regulatory developments, and other factors. There can be no assurance that Category I designation, targeted reimbursement levels, or
projected revenue levels will be achieved.