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Sichenzia Ross Ference LLP Represents Biosolar, Inc. in $5.0 Million Registered Direct Offering

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Press Release – New York, New York – April 7, 2021 – Sichenzia Ross Ference LLP announced today that it represented Biosolar, Inc. (OTC: BSRC), a developer of energy technologies, in a registered direct offering with a single institutional investor to purchase 125,000,000 shares of its common stock (or common stock equivalents in lieu thereof)  and warrants to purchase an aggregate of up to 125,000,000 shares of common stock. The combined purchase price for one share of common stock and a warrant to purchase one share of common stock is $0.04. The warrants have an exercise price of $0.04 per share, are immediately exercisable and will expire five years from the issuance date. The gross proceeds from the offering were $5.0 million.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The securities described were being offered pursuant to a “shelf” registration statement on Form S-3 (File No. 333-254336) filed with the Securities and Exchange Commission on March 16, 2021 and was declared effective on March 25, 2021.

The Sichenzia Ross Ference LLP team was led by partners Gregory Sichenzia, Avital Perlman, David Manno and associates Matthew Siracusa and Mayank Pradhan.

Sichenzia Ross Ference Carmel LLP