Longeveron Announces $2.36M Registered Direct Offering of 1.36M Shares at $1.745/Share
Portfolio Pulse from Benzinga Newsdesk
Longeveron Inc. has announced a registered direct offering of 1.36 million shares at $1.62 per share, along with a concurrent private placement of warrants to purchase an equivalent number of shares. The gross proceeds are expected to be approximately $2.36 million, which will be used for working capital and general corporate purposes. The offering is set to close on December 26, 2023.
December 21, 2023 | 1:05 pm
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Longeveron Inc. is conducting a direct offering of shares and warrants which is expected to raise $2.36 million for working capital and general corporate purposes.
The direct offering may dilute existing shares, but the capital raise is relatively small compared to the market cap and is intended for corporate growth. The impact is neutral as the offering is priced at-the-market, suggesting it is aligned with current valuation.
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