Longeveron announces $4M registered direct offering and private placement of common stock and warrants

Longeveron Inc.

Offering includes 2,424,243 shares of common stock at $1.65/share and pre-funded warrants for 59,243 shares.
Concurrent private placement of unregistered Series A and Series B warrants to purchase up to 2,424,243 shares each.
Net proceeds to fund clinical development of Lomecel-B™ and for working capital.
Offering expected to close on October 13, 2023; H.C. Wainwright acted as placement agent.
Warrants require stockholder approval before exercisable; Series A term 5.5 yrs, Series B 18 months.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Longeveron Inc. entered into Securities Purchase Agreement with Institutional and accredited investor valued at Common stock and warrants; gross proceeds approximately $4 million (effective 2023-10-11).

Action: entry
Agreement: equity purchase
Counterparty: Institutional and accredited investor
Value: Common stock and warrants; gross proceeds approximately $4 million
Effective: 2023-10-11

Exact text from the filing

On October 11, 2023, Longeveron Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an institutional and accredited investor (the “Purchaser”) relating to the registered direct offering and sale of an aggregate of 2,365,000 shares of the Company’s Class A common stock, par value $0.001 per share (the “Common Stock”) and pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 59,243 shares of Common Stock (the “Pre-Funded Warrant Shares”) at an exercise price of $0.001 per share, at a purchase price of $1.65 per share of Common Stock and a purchase price of $1.649 per Pre-Funded Warrant (the “Offering”).

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Source: SEC EDGAR

accession 0001013762-23-003640

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