Longeveron Enters Into Agreements For Issuance And Sale Of 2.2M Shares Of Class A Common Stock At $4.025 Per Share In Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
Longeveron has entered into agreements for the issuance and sale of 2.2 million shares of Class A common stock at $4.025 per share in a registered direct offering. Additionally, a concurrent private placement will issue unregistered warrants for 2.2 million shares with a $3.90 exercise price. The offering is expected to close on July 19, 2024.
July 18, 2024 | 12:48 pm
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Longeveron is issuing 2.2 million shares of Class A common stock at $4.025 per share and unregistered warrants for 2.2 million shares with a $3.90 exercise price. The offering is expected to close on July 19, 2024.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in stock price. The exercise price of the warrants is also below the current offering price, which may add additional downward pressure.
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