AIkido Pharma Inc. (Nasdaq: AIKI), today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 14,000,000 shares of AIkido's common stock, at a purchase price of $1.00 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 April 16, 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 AIkido from this offering are expected to be $14.0 million, before deducting the placement agent's fees and other estimated offering expenses payable by AIkido. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

About AIkido

AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company's platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology