Longeveron Announces $9.0 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
MIAMI, July 18, 2024 (GLOBE NEWSWIRE) — Longeveron Inc. (NASDAQ:LGVN) (“Longeveron” or the “Company”), a clinical stage regenerative medicine biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions, today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 2,236,026 shares of its Class A common stock (or common stock equivalents in lieu thereof) at a purchase price of $4.025 per share of Class A common stock (or per common stock equivalent in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company has also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 2,236,026 shares of Class A common stock. The unregistered warrants will have an exercise price of $3.90 per share and will be immediately exercisable for a period of twenty-four (24) months following the date of issuance. The offering is expected to close on or about July 19, 2024, subject to the satisfaction of customary closing conditions.