Longeveron raises $6.2M from warrant exercise, total $11.4M; regains Nasdaq compliance

Longeveron Inc.

Gross proceeds of ~$6.2M from exercise of 2,399,744 existing warrants at $2.35/share; combined with prior public offering totals ~$11.4M.
Issued new unregistered warrants to purchase up to 4,799,488 shares (Series C: 5-year term, Series D: 24-month term, both at $2.35 exercise price).
Intends to use net proceeds for clinical/regulatory development of Lomecel-B for HLHS, Alzheimer's, and general corporate purposes.
Regained compliance with Nasdaq minimum bid price requirement after closing price >=$1.00 for 13 consecutive business days through April 15, 2024.

item 1.01 item 3.02 item 7.01 item 8.01 item 9.01

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

Longeveron Inc. entered into Inducement Letter Agreements with certain holders valued at approximately $6.2 million (effective 2024-04-16).

Action: entry
Agreement: equity purchase
Counterparty: certain holders
Value: approximately $6.2 million
Effective: 2024-04-16

Exact text from the filing

On April 16, 2024, Longeveron Inc., a Delaware corporation (the “Company”), entered into inducement letter agreements (the “Inducement Letter Agreements”) with certain holders (the “Holders”) of its existing (i) Series A warrants to purchase up to an aggregate of 242,425 shares of the Company’s Class A common stock

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419 material agreements filed in the last 30 days. Browse all material agreements →

Longeveron Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-034129

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