LGVN - InvestorNewsBreaks - Longeveron Inc. (NASDAQ: LGVN) Closes on Public Offering Valued at Estimated $5.2M
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, has closed on its previously announced public offering. The offering was comprised of up to 2,234,043 shares of Class A LGVN common stock (or prefunded warrants in lieu thereof) and warrants to purchase up to 2,234,043 shares of Class A common stock, both offered at $2.35 per share and associated warrant. The announcement noted that the warrants are exercisable upon issuance for up to five years. The public offering resulted in gross proceeds of approximately $5.2 million before standard deduction of fees and other expenses. According to the announcement, Longeveron plans to use the funds for ongoing clinical and regulatory development of Lomecel-B(TM), the company’s proprietary treatment for several disease states and indications, including HLHS and Alzheimer’s disease; the company may also use the funds for obtaining regulatory approvals, capital expenditures, working capital and other 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/YPkij
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(TM) 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 pursuing three pipeline 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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