AIkido Pharma Inc. Announces $22 Million Registered Direct Offering

NEW YORK, Feb. 25, 2022 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company"), today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase 11,000 shares of Series O redeemable convertible preferred stock and 11,000 shares of Series P redeemable convertible preferred stock.  Each share of Series O and Series P preferred stock has a purchase price of $952.38, representing an original issue discount of 5% of the $1,000 stated value of each share.  Each share of Series O and Series P preferred stock is convertible into shares of AIkido's common stock at an initial conversion price of $1.00 per share.  Shares of the Series O and Series P preferred stock are convertible at the option of the holder at any time following the Company's receipt of stockholder approval for a reverse stock split of the Company's common stock.  AIkido will be permitted to compel conversion of the Series O and Series P preferred stock after the fulfillment of certain conditions and subject to certain limitations. Total net proceeds from the offerings, before deducting the placement agent's fees and other estimated offering expenses, is approximately $20.9 million.

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