Intelligent Bio Solutions Inc. completed a private placement with two healthcare-focused institutional investors, issuing 2,298,850 shares of common stock (or pre-funded warrants) at $4.35 per share, together with Series K-1 and K-2 warrants. The transaction, conducted at-the-market under Nasdaq rules, is expected to generate approximately $10.0 million in gross proceeds before placement agent fees and expenses. Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent.

Each Series K-1 and K-2 warrant grants the right to purchase up to 2,298,850 shares at an exercise price of $4.10 per share, exercisable immediately upon issuance and expiring five years after the SEC effectiveness of the related registration statement. Under the placement agreement, INBS must file a registration statement for the resale of all issued shares and shares underlying the warrants within 10 calendar days and use best efforts to have it declared effective within 45 days.

Proceeds will fund working capital, general corporate purposes, the U.S. FDA 510(k) submission for the Intelligent Fingerprinting Drug Screening System and international market expansion. The non-invasive system analyzes fingerprint sweat to detect recent use of opiates, cocaine, methamphetamine and cannabis, delivering results in under ten minutes and targeting safety-critical sectors such as construction, transport, mining and drug treatment organizations.

INBS announced a strategic manufacturing partnership designed to reduce unit costs, bolster gross margins and scale production capacity ahead of its planned U.S. expansion. Following the announcement, the company’s stock jumped 132.4%, reflecting investor confidence in improved cost structure and accelerated go-to-market capabilities for its fingerprint-based testing platform.