NetworkNewsBreaks — Longeveron Inc. (NASDAQ: LGVN; LGVNR) Closes on $4M Registered Direct Offering
Longeveron (NASDAQ: LGVN), a clinical-stage biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions such as hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty, closed on its previously announced registered direct offering. The offering was comprised of 2,424,243 shares of Class A common stock or common stock equivalents priced at $1.65 per share, or common stock equivalent. In addition, Longeveron issued unregistered Series A warrants in a concurrent private placement; the private placement included 2,424,243 shares of LGVN common stock and unregistered Series B warrants. The warrants, which have an exercise price of $1.65 per share, are exercisable upon the effective date of stockholder approval of the issuance of the shares underlying the warrants. The Series A and Series B warrants have terms of five and one-half years and 18 months from the date of issuance, respectively. According to the announcement, Longeveron anticipates using the estimated $4 million gross proceeds from the offering for ongoing clinical and regulatory development of Lomecel-B(TM) as well as for capital expenditures, working capital and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
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Longeveron (NASDAQ: LGVN), a clinical-stage biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions such as hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty, closed on its previously announced registered direct offering. The offering was comprised of 2,424,243 shares of Class A common stock or common stock equivalents priced at $1.65 per share, or common stock equivalent. In addition, Longeveron issued unregistered Series A warrants in a concurrent private placement; the private placement included 2,424,243 shares of LGVN common stock and unregistered Series B warrants. The warrants, which have an exercise price of $1.65 per share, are exercisable upon the effective date of stockholder approval of the issuance of the shares underlying the warrants. The Series A and Series B warrants have terms of five and one-half years and 18 months from the date of issuance, respectively. According to the announcement, Longeveron anticipates using the estimated $4 million gross proceeds from the offering for ongoing clinical and regulatory development of Lomecel-B(TM) as well as for capital expenditures, working capital and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
