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 announced the pricing of its public offering. The offering is comprised of 2,234,043 shares of the company’s Class A common stock (or prefunded warrants) and warrants to purchase up to 2,234,043 shares of Class A common stock. The offering price is $2.35 per share (or prefunded warrant) and associated warrant. The offering is expected to close on or about April 10, 2024; the closing is subject to the satisfaction of customary closing conditions. According to the announcement, gross proceeds from the offering should result in an estimated $5.25 million, before standard deductions. The company anticipates using those funds for clinical and regulatory development of Lomecel-B(TM) for the treatment of several disease states and indications, including HLHS and Alzheimer’s disease; funds may also be used to obtain regulatory approvals as well as for capital expenditures, working capital and other general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
To view the full press release, visit https://ibn.fm/kM5kT
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 advancing Lomecel-B through clinical trials in three 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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