CLNN - Clene announces $10.8M registered direct offering

• Clene ( NASDAQ: CLNN ) and its wholly owned subsidiary Clene Nanomedicine has entered into a securities purchase agreement with certain existing stockholders for the purchase and sale of 10.72M shares of the Co.’s common stock at a purchase price/share of $1.01, priced at-the-market.
• The gross proceeds from the offering are expected to be ~$10.8M and the closing of the offering is expected to occur on or about Nov. 2, 2022.
• Clene intends to use the proceeds together with its existing cash for expenses primarily related to general corporate purposes, including to fund the clinical development of its lead drug candidate, CNM-Au8 ^® .
• Also, announced that it has executed a Commitment Letter with the Maryland Department of Housing and Community Development to borrow $5M.

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