Skyline Medical Announces Pricing of Public Offering of Units and Listing on NASDAQ

MINNEAPOLIS, MN / ACCESSWIRE / August 26, 2015 / Skyline Medical Inc. (“Skyline Medical” or the “Company”) (NASDAQ: SKLN) (OTCQB: SKLN), today announced the pricing of a firm commitment underwritten public offering of 1,666,667 Units at an offering price of $9.00 per Unit, with each Unit consisting of one share of the Company’s Common Stock, one share of Series B Convertible Preferred Stock and four Series A Warrants. Each share of Series B Convertible Preferred Stock is convertible at the option of the holder into one share of Common Stock. Each Series A Warrant is exercisable into one share of Common Stock at an exercise price of $4.95 per share. The Units and the Common Stock have been approved for listing on the NASDAQ Capital Market under the symbols “SKLNU” and “SKLN”, respectively.

Gross proceeds to the Company from the offering will be approximately $15 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company has granted the underwriter a 45-day option to purchase up to an additional 250,000 Units to cover over-allotments, if any. The offering is expected to close on August 31, 2015, subject to customary closing conditions.

Dawson James Securities, Inc. acted as the sole underwriter for the offering. Copies of the complete final prospectus related to the offering may be obtained from Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5^th Floor, Boca Raton, FL 33432, or from mmaclaren@dawsonjames.com, or by calling toll free at 866.928.0928.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Skyline Medical Inc.:

Skyline Medical Inc. produces a fully automated, patented, FDA-cleared, waste fluid disposal system that virtually eliminates staff exposure to blood, irrigation fluid and other potentially infectious fluids found in the healthcare environment.

CONTACT:

Skyline Investor Relations Contacts:
Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
212-896-1233 / 212-896-1203
skyline@kcsa.com

SOURCE: Skyline Medical Inc.

ReleaseID: 431544