Longeveron Announces Closing of $9.0 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
MIAMI, July 19, 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 the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules, 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 issued unregistered warrants to purchase up to an aggregate of 2,236,026 shares of Class A common stock. The unregistered warrants have an exercise price of $3.90 per share and are immediately exercisable for a period of twenty-four (24) months following the date of issuance.