UPDATE: 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 $1.745 per share, aiming to raise approximately $2.36 million. The company will also issue warrants with an exercise price of $1.62 per share. The proceeds are intended for working capital and general corporate purposes. H.C. Wainwright & Co. is the exclusive placement agent for the offering, which is expected to close on December 22, 2023.
December 21, 2023 | 3:37 pm
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Longeveron Inc. is raising funds through a direct offering of shares and warrants, which may dilute current shareholders but provide capital for the company's operations.
The direct offering of shares typically leads to dilution of existing shareholders' equity, which can result in a negative short-term impact on the stock price. However, the capital raised is crucial for the company's continued operations and growth. The confidence level is not at 100 due to market conditions that could influence the stock's reaction to the news.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100