Applied DNA Sciences Announces $8.75 Million Registered Direct Offering

STONY BROOK, NY--(Marketwired - November 23, 2015) - Applied DNA Sciences, Inc. (NASDAQ: APDN) (NASDAQ: APDNW) (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology, supply chain and product authentication solutions, announced that it has entered into securities purchase agreements with certain institutional investors providing for the purchase and sale of 2,500,000 shares of common stock at a price of $3.49 per share in a registered direct public offering. In a concurrent private placement, Applied DNA Sciences has agreed to sell warrants to purchase 1,250,000 shares of its common stock at a price of $0.01 per warrant, with an exercise price of $4.30 per share. The warrants will be exercisable beginning six months following the closing date of the private placement and will expire five years from the date on which they become exercisable.

The aggregate gross proceeds to the Company from the registered direct offering and private placement are estimated to be approximately $8.75 million before deducting the placement agent's fee and other estimated offering expenses. The registered direct offering and concurrent private placement are expected to close on or about November 27, 2015, subject to customary closing conditions.

The Company intends to use the aggregate net proceeds from the registered direct offering and the concurrent private placement for general corporate purposes, including working capital, capital expenditures, business development and research and development and acquisitions of new technologies or businesses.

Maxim Group LLC is acting as the sole placement agent for the registered direct offering and the concurrent private placement.

The shares of common stock described above are being offered by Applied DNA Sciences pursuant to a "shelf" registration statement on Form S-3 (File No. 333-202432) filed with the Securities and Exchange Commission (the "SEC"), which was declared effective on March 10, 2015. A prospectus supplement relating to the shares of common stock will be filed by the Company with the SEC. When available, copies of the prospectus supplement, together with the accompanying base prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, (212) 895-3745.

The warrants and shares of the Company's common stock issuable upon exercise of the warrants have not been registered with the SEC and are being offered in reliance on an exemption from the registration requirement of the Securities Act of 1933.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Additional information can be found in the Company's filings with the SEC available at www.sec.gov and on the Company's website at www.adnas.com.

About Applied DNA Sciences

We make life real and safe by providing botanical-DNA based security and authentication solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature^® DNA describes the platform ingredient that is at the heart of all of our security and authentication solutions. SigNature DNA is at the core of a family of uncopyable products such as DNAnet^®, our anti-theft product, SigNature^® T, targeted toward textiles, and digitalDNA^®, providing powerful track and trace. All provide a forensic chain of evidence and can be used to prosecute perpetrators. We are also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.

Applied DNA Sciences common stock is listed on NASDAQ under the symbol APDN, and its warrants are listed under the symbol APDNW.

Forward-Looking Statement

The statements made by APDN in this press release may be "forward-looking" in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K filed on December 15, 2014, as amended on March 6, 2015 and our subsequent quarterly reports on Form 10-Q filed on February 9, 2015, May 11, 2015 and August 10, 2015, which are available at www.sec.gov. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise required by law.