CMRA - Comera Life Sciences announces up to $15M purchase agreement with Arena

• Comera Life Sciences ( NASDAQ: CMRA ) said on Wednesday that it had entered into a purchase agreement with Arena Business Solutions Global for up to $15M of the company’s common stock, with an option to increase by an additional $15M to $30M.
  • "The line of credit provides the opportunity to invest in our pipeline and proprietary formulation platform, SQore, which is designed to transform intravenous biologics into subcutaneous versions that patients can self-administer in a single dose,” said Jeffrey Hackman, Chief Executive Officer of Comera.
• • Comera will have the right and the sole discretion to sell to Arena up to $15M worth of shares over a 36-month period subject to certain limitations.
• • Comera will control the timing and amount of any future investment and Arena will be obligated to make purchases in accordance with the purchase agreement and at a price based on 96% of the volume-weighted average trading price of common stock on the day of each sale.

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