CLSN - Celsion slides on $7 million common stock offering

Clinical-stage biotech, Celsion Corporation (NASDAQ:CLSN) has crashed ~19% in the pre-market Wednesday after announcing a direct offering of its common stock for $7.0 million gross proceeds. The company said that it reached definitive agreements with institutional investors to purchase and sell more than 1.3 million shares of its common stock at $5.27 apiece under a registered direct offering priced at-the-market under Nasdaq rules. A.G.P./Alliance Global Partners operates as sole placement agent for the offer. It is expected to close on or about April 8, 2022, subject to customary closing conditions.

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Celsion slides on $7 million common stock offering