Celularity Inc. Announces $3M Registered Direct Offering Of 8,571,428 Shares And Warrants At A Price Of $0.35/Unit
Portfolio Pulse from Happy Mohamed
Celularity Inc. (NASDAQ:CELU) has announced a registered direct offering of 8,571,428 shares and warrants at a price of $0.35 per unit, resulting in total gross proceeds of approximately $3 million. The warrants will be exercisable six months after issuance and will expire five years after the initial exercise date. The closing of the offering is expected to occur on July 31, 2023.
July 27, 2023 | 1:12 pm
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Celularity's registered direct offering could potentially dilute existing shareholders' equity, which may negatively impact the stock price in the short term. However, the additional capital could strengthen the company's financial position.
Registered direct offerings increase the number of shares in circulation, which can dilute the value of existing shares. However, the proceeds from the offering could be used to fund operations or reduce debt, which could strengthen the company's financial position in the long term.
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