InvestorNewsBreaks – Longeveron Inc. (NASDAQ: LGVN) Enters into $9M Registered Direct Offering

Longeveron (NASDAQ: LGVN), a clinical-stage, regenerative-medicine biotechnology company developing cellular therapies for rare, life-threatening and chronic aging-related conditions, has entered into definitive agreements for the issue and sale of shares of Class A common stock. According to the announcement, the registered direct offering is comprised of up to 2,236,026 shares of LGVN Class A common stock (or common stock equivalents in lieu thereof) issued at a purchase price of $4.025 per share. The company also announced a concurrent private placement that includes issuing and selling of unregistered warrants for to an aggregate of 2,236,026 shares of Class A common stock. The exercise price of the unregistered warrants will be $3.90 per share; the warrants will be immediately exercisable for up to 24 months following the date of issuance. The company anticipates gross proceeds from the offering, which is expected to close on or about July 19, 2024, to reach an estimated $9 million before the deduction of fees and expenses. Longeveron plans to use the funds for ongoing clinical and regulatory development of Lomecel-B(TM) as well as capital expenditures, working capital and other general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

To view the full press release, visit https://ibn.fm/Afjqm

About Longeveron Inc. 

Longeveron is a clinical-stage, biotechnology company developing regenerative medicines to address unmet medical needs. The company’s lead investigational product is Lomecel-B(TM), an allogeneic medicinal signaling cell (“MSC”) therapy product isolated from the bone marrow of young, healthy adult donors. Lomecel-B(TM) has multiple potential mechanisms of action encompassing provascular, proregenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently pursuing three pipeline indications: hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty. Lomecel-B Development programs have received five separate and distinct FDA designations: for the HLHS program – Orphan Drug designation, Fast Track designation, and Rare Pediatric Disease designation; and, the Alzheimer’s Disease program – Regenerative Medicine Advanced Therapy (“RMAT”) designation and Fast Track designation. To learn more about the company, visit www.Longeveron.com.

NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://ibn.fm/LGVN

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