Longeveron Inc (NASDAQ:LGVN) shares are trading lower by 12.8% to $3.40 during Thursday’s session after the company announced a $9 million registered direct offering of 2.2 million shares of its common stock at $4.025 per share.
The offering also consists of unregistered warrants for the same number of shares at $3.90 each. The total proceeds of approximately $9 million will be used for clinical development of Lomecel-B™, regulatory approvals, capital expenditures, and other corporate needs.
The offering, managed by H.C. Wainwright & Co., is expected to close ...
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