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Atossa Genetics Inc. Announces Closing of a Public Offering of Common Stock and Warrants

SEATTLE, WA -- (Marketwired) -- 01/29/14 -- Atossa Genetics Inc. (NASDAQ: ATOS) today announced that it has closed a public offering of 5,834,234 units at a price to the public of $2.40 per unit. The Company has received approximately $14.0 million in gross proceeds. Each unit consists of one share of common stock and one warrant to purchase 0.20 of a share of common stock.

Atossa intends to use the net proceeds of this offering for general corporate purposes, which include, but are not limited to, funding our ongoing and future development and re-launch of our ForeCYTE Breast Aspirator when it receives regulatory clearance, funding the development of our other products in the pipeline including our FullCYTE Breast Health Test, NextCYTE Breast Cancer Test, ArgusCYTE Breast Health Test, our planned intra-ductal treatment program, and for general and administrative expenses.

Dawson James Securities, Inc. is acting as the sole book-running manager for the offering.

The shares of common stock and warrants have been issued. The warrants are immediately exercisable, have a five-year term and an exercise price of $3.00 per share. There is no established public trading market for the warrants and we do not expect a market to develop.

The securities described above are being offered pursuant to an effective registration statement on Form S-3, together with a prospectus supplement and accompanying base prospectus, previously filed with, and declared effective by, the Securities and Exchange Commission (the "SEC"). The securities have only been offered by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement relating to the terms of the offering has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov. Copies of the final prospectus supplement relating to the offering may also be obtained from Dawson James Securities, Inc., 1 North Federal Highway, Boca Raton, FL, 33432 or via telephone at (866) 928-0928.

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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Atossa Genetics

Atossa Genetics Inc. is focused on proprietary products and services related to breast health through the commercialization of medical devices and, through its wholly-owned subsidiary, The National Reference Laboratory for Breast Health, Inc., the offering of laboratory services and tests. For additional information, please visit www.atossagenetics.com.

Forward-Looking Statements

Forward-looking statements in this press release are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with actions by the FDA, including timing of review by the FDA of 510(k) submissions, and actions related thereto, the outcome or timing of regulatory clearances needed by Atossa to sell its products, responses to regulatory matters, Atossa's ability to continue to manufacture and sell its products, recalls of products, the efficacy of Atossa's products and services, performance of distributors, estimated future expenses and cash needs, and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.

Contact:

Atossa Genetics Inc.
Kyle Guse
CFO and General Counsel
(O) 800-351-3902

MBS Value Partners
Matthew D. Haines
(Investors and Media)
Managing Director
(O) 212-710-9686

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