CELU - Celularity announces $3M registered direct offering stock up 8%

2023-07-27 10:37:00 ET

• Celularity ( NASDAQ: CELU ) on Thursday announced an ~$3M registered direct offering of class A shares and warrants.
• Shares +7.9% in morning trade.
• The firm inked a deal with a healthcare-focused institutional investor for the purchase and sale of ~8.6M class A shares and warrants to buy up to ~8.6M shares at a combined purchase price of $0.35 per share/warrant.
• The warrants will be exercisable starting six months after the date of issuance and will expire five years following the initial exercise date.
• Celularity ( CELU ) also said certain existing warrants to buy up to 8.9M shares at an exercise price of $0.75 per share and a termination date of October 10, 2028 will be amended once the offering closes.
• The amended warrants will have a reduced exercise price of $0.45 per share.
• The closing of the offering and sale of securities is expected on or about July 31.
• Celularity ( CELU ) also inked an exclusive U.S. commercialization deal with Verséa Ophthalmics, which will distribute Celularity's BIOVANCE and BIOVANCE 3L Ocular products.

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