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.
To view the full press release, visit https://ibn.fm/boX0B
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 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 advancing Lomecel-B through clinical trials in three indications: hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty. 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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