Longeveron (NASDAQ: LGVN), a clinical-stage, regenerative-medicine biotechnology company developing cellular therapies for rare, life-threatening and chronic aging-related conditions, has closed on its previously announced registered direct offering. The offering, which was priced at-the-market following NASDAQ rules, included the issue and sale of 2,236,026 shares of LGVN Class A common stock (or common stock equivalents in lieu thereof). The shares were offered at a purchase price of $4.025 per share. The company also closed on a concurrent private placement involving the issue of unregistered warrants to purchase up to 2,236,026 shares of Class A common stock. The unregistered warrants have an exercise price of $3.90 per share and are immediately exercisable for 24 months following the date of issue. The company received an estimated $9 million in gross proceeds from the offering, before the deduction of fees and expenses. Longeveron anticipates using the funds for ongoing clinical and regulatory development of Lomecel-B(TM) as well as capital expenditures, working capital and other general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
To view the full press release, visit https://ibn.fm/f9CL3
About Longeveron Inc.
Longeveron is a clinical-stage, biotechnology company developing regenerative medicines to address unmet medical needs. The company’s lead investigational product is Lomecel-B(TM), an allogeneic medicinal signaling cell (“MSC”) therapy product isolated from the bone marrow of young, healthy adult donors. Lomecel-B(TM) has multiple potential mechanisms of action encompassing provascular, proregenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently pursuing three pipeline indications: hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty. Lomecel-B development programs have received five separate and distinct FDA designations: for the HLHS program, Orphan Drug designation, Fast Track designation and Rare Pediatric Disease designation; for the Alzheimer’s disease program – Regenerative Medicine Advanced Therapy (“RMAT”) designation and Fast Track designation. To learn more about the company, visit www.Longeveron.com.
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://ibn.fm/LGVN
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