Thorofare, New Jersey, (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (NASDAQ: AKER), a developer of rapid health information technologies, today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 1,366,856 shares of the Company’s common stock, at a purchase price of $3.53 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 May 18, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

About Akers Biosciences Inc.

Akers Biosciences is pursuing the development of a newly acquired license to a coronavirus vaccine candidate. In addition, the company develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring health related information directly to the patient or clinician in a timely and cost-efficient manner. Akers has previously announced that that it had identified the hemp and minor cannabinoid sectors as promising adjacent opportunities that could benefit from Akers’ existing facility and its core competencies.