Clene raises $10.8M in registered direct offering and secures $5M debt facility from Maryland

Clene Inc.

Registered direct offering of 10,723,926 shares at $1.01/share; gross proceeds of $10.8M.
Proceeds to fund clinical development of CNM-Au8 for ALS and general corporate purposes.
Also entered $5M loan facility with Maryland DHCD (SSBCI), non-dilutive, conditional on matching equity.
Both transactions extend cash runway into Q3 2023; direct offering closing expected Nov 2, 2022.
Offering made to existing stockholders including board affiliates; no placement agent or commissions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Clene Inc. entered into Securities Purchase Agreement with certain of the Company’s existing stockholders, including stockholders affiliated with directors of the Company (the “Purchasers”) valued at approximately $10.8 million (effective 2022-10-31).

Action: entry
Agreement: equity purchase
Counterparty: certain of the Company’s existing stockholders, including stockholders affiliated with directors of the Company (the “Purchasers”)
Value: approximately $10.8 million
Effective: 2022-10-31

Exact text from the filing

On October 31, 2022, Clene Inc. (the “Company”) entered into securities purchase agreement (the “Securities Purchase Agreement”) with certain of the Company’s existing stockholders, including stockholders affiliated with directors of the Company (the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “Offering”), 10,723,926 shares of common stock, par value $0.0001 per share, at a sale price of $1.01 per share.

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Clene Inc. filing history →

Source: SEC EDGAR

accession 0000950170-22-020527

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