Applied DNA Sciences Inc (APDN)

[Go_APDN]

New to APDN. When I scanned the prospectus I thought I saw that the reverse split ratio will be determined prior to the conclusion of the offering.

"On August 28, 2014, our stockholders approved a reverse split of our common stock, in a ratio to be determined by our Board of Directors, of not less than 1-for-40 nor more than 1-for-60. We intend to effectuate the reverse split of our common stock in a ratio to be determined by our Board of Directors prior to consummation of this offering."

So doesn't that mean the new shares and warrants will be priced off of the reverse split ratio?

And I think there's an "over allotment" of $1,800,000 that Maxim has the option of exercising after the $12,000,000 deal is done.

APDN seems to have a lot going for it and the new money coming in should help it build out its business!