Longeveron Raises $4.4 Million in Gross Proceeds from Warrant Exercise Transaction
MIAMI, June 18, 2024 (GLOBE NEWSWIRE) — Longeveron Inc. (NASDAQ:LGVN) (“Longeveron” or the “Company”), a clinical stage regenerative medicine biotechnology company developing cellular therapies for rare, life-threatening and chronic aging-related conditions, today announced the closing of its previously announced exercise of certain existing warrants to purchase an aggregate of 1,697,891 shares of its Class A common stock having an exercise price of $2.35 per share, originally issued in April 2024. The resale of the shares of Class A common stock issuable upon exercise of the existing warrants is registered pursuant to an effective registration statement on Form S-1 (File No. 333-278995). The gross proceeds to the Company from the exercise of the existing warrants were approximately $4.4 million, prior to deducting placement agent fees and estimated offering expenses payable by the Company.