Daxor Corporation Announces Pricing of $2.0 million Underwritten Public Offering

DAXOR CORPORATION (Nasdaq: DXR) (“Daxor”, or the “Company”), the global leader in blood volume measurement technology, today announced the pricing of an underwritten public offering consisting of 210,527 shares of its common stock at a public offering price of $9.50 per share. The gross proceeds to Daxor from the offering, before deducting the underwriting commissions and other estimated offering expenses payable by Daxor, are expected to be $2.0 million. In addition, Daxor has granted the underwriter in the offering a 45-day option to purchase up to an additional 10,527 shares of its common stock at the public offering price, less underwriting discounts, and commissions, to cover over-allotments in connection with the offering. The offering is expected to close on November 17, 2022, subject to customary closing conditions.

Joseph Gunnar & Co., LLC is acting as the sole book-running manager for the offering.

Daxor intends to use the net proceeds from the offering for working capital, general corporate purposes, including to develop our products, fund capital expenditures, make investments in or acquisitions of other businesses, solutions or technologies or repay a portion of our outstanding borrowings.

A shelf registration statement on Form N-2 (File Nos. 333-255212 and 811-22684) relating to the securities being offered was filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 13, 2021, and became effective on July 16, 2021. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the shelf registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering have been filed with the SEC and will be available on the SEC’s website, located at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus may be obtained, when available, from Joseph Gunnar & Co., LLC, Attn: Syndicate Department, 30 Broad Street, 11^th Floor, New York, NY 10004, by calling (212) 440-9600. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus, together with the information incorporated therein, for more complete information about Daxor and the proposed offering. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Daxor:
Daxor Corporation (Nasdaq: DXR), is the global leader in blood volume measurement technology focused on blood volume testing innovation. We developed and market the BVA-100^® (Blood Volume Analyzer), the first diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms. Over 60,000+ tests have been performed at leading hospital centers across the U.S., enhancing hospital performance metrics in a broad range of surgical and medical conditions, including significantly reducing mortality and readmissions in heart failure and critical care. Daxor has several ongoing multicenter trials in the areas of COVID-19 and heart failure treatment with support from the NIH and is under contract developing analyzers to improve combat casualty care with the U.S. Department of Defense. Daxor’s mission is to advance healthcare by enabling optimal fluid management with blood volume analysis. Daxor’s vision is optimal blood volume for all.