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Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or "Company"), a clinical stage regenerative medicine biotechnology company developing cellular therapies for life-threatening, rare pediatric and chronic aging-related conditions, today announced the pricing of a public offering of 5,882,354 of the Company's Class A common stock (or pre-funded warrants in lieu thereof), together with short-term warrants to purchase up to 14,705,885 shares of Class A common stock at a combined public offering price of $0.85 per share of Class A common stock (or pre-funded warrant in lieu thereof) and accompanying short-term warrants. The short-term warrants will have an exercise price of $0.85 per share and will be immediately exercisable upon issuance for a period of twenty-four months following the date of issuance. Certain board members and insiders of the Company are participating in the offering on the same terms and conditions. The offering is expected to close on or about August 11, 2025, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering, before deducting the placement agent's fees and other offering expenses payable by the Company, are expected to be approximately $5.0 million. The potential additional gross proceeds to the Company from the short-term warrants, if fully-exercised on a cash basis, will be approximately $12.5 million. No assurance can be given that any of such short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for funding for its ongoing clinical and regulatory development of laromestrocel for the treatment of several disease states and indications, including HLHS, Alzheimer's disease, and pediatric DCM, obtaining regulatory approvals, advancing CMC activities to support BLA readiness, capital expenditures, working capital and other general corporate purposes.
Posted In: LGVN
