Pulse Biosciences Announces Preliminary Results of Rights Offering

Pulse Biosciences, Inc. (Nasdaq: PLSE), leveraging its CellFX® Nanosecond Pulsed Field Ablation™ (nsPFA™) technology, disclosed today the preliminary outcomes of its recently concluded rights offering. The offering, which expired at 5:00 p.m. Eastern Time on June 26, 2024, set the final subscription price for the Units at $10.00 per Unit. Each Unit includes one share of common stock and two warrants, each exercisable for one-half of a share at $11.00 per whole share.

Broadridge Corporate Issuer Solutions, Inc., the Subscription Agent, reported initial results indicating over $83 million in total subscriptions, exceeding the $60 million offering limit by approximately 138%. This oversubscription, involving over 800 accounts including Executive Chairman Robert Duggan’s, will lead to proportional allocations among subscribing rights holders. The Subscription Agent will return excess subscriptions to investors, pending finalization.

Upon closing, expected proceeds to Pulse Biosciences from the offering will be $60 million, with potential additional proceeds up to $66 million from warrant exercises. Final results are subject to Subscription Agent procedures and will be distributed promptly after closing.

The rights offering was conducted under a Form S-3 registration statement, as amended, and prospectus filed with the SEC, accessible at www.SEC.gov. Rights not exercised by the deadline have expired.

About Pulse Biosciences®

Pulse Biosciences is dedicated to bioelectric medicine innovation aimed at enhancing patient quality of life. Its CellFX® nsPFA™ technology delivers precise nanosecond electrical pulses to clear cells non-thermally, targeting applications like atrial fibrillation treatment and other healthcare sectors.

Pulse Biosciences, CellFX, Nano-Pulse Stimulation, NPS, nsPFA, CellFX nsPFA, and associated logos are trademarks or registered trademarks of Pulse Biosciences, Inc.

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