NetworkNewsBreaks – Longeveron Inc. (NASDAQ: LGV
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Posted On: 04/19/2024 4:48:04 PM
NetworkNewsBreaks – Longeveron Inc. (NASDAQ: LGVN) Closes on Multimillion-Dollar Warrant Exercise Offering, Public 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, has closed on its warrant exercise offering. According to the announcement, the exercise comprised certain existing warrants to purchase 2,399,744 shares of LGVN Class A common stock; the warrants were originally issued in October 2023 and April 2024. The proceeds from the warrant exercise offering will be combined with a public offering, which closed earlier this month; together the two transactions resulted in approximately $11.4 million before the deduction of placement agent fees and standard offering expenses. The company anticipates using funds from the offerings to support the ongoing clinical and regulatory development of Lomecel-B(TM) for the treatment of several disease states and indications, including HLHS and Alzheimer’s disease; funds may also be used to obtain regulatory approvals as well as for capital expenditures, working capital and other general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://nnw.fm/LGVN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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, has closed on its warrant exercise offering. According to the announcement, the exercise comprised certain existing warrants to purchase 2,399,744 shares of LGVN Class A common stock; the warrants were originally issued in October 2023 and April 2024. The proceeds from the warrant exercise offering will be combined with a public offering, which closed earlier this month; together the two transactions resulted in approximately $11.4 million before the deduction of placement agent fees and standard offering expenses. The company anticipates using funds from the offerings to support the ongoing clinical and regulatory development of Lomecel-B(TM) for the treatment of several disease states and indications, including HLHS and Alzheimer’s disease; funds may also be used to obtain regulatory approvals as well as for capital expenditures, working capital and other general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://nnw.fm/LGVN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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