Longeveron Shares Fall After Company Prices Public Offering
MT Newswires Live
Aug 09
Longeveron (LGVN) shares were down over 48% in recent Friday trading after the company priced its public offering of shares and warrants to raise up to $17.5 million.
The company said it is offering about 5.9 million class A shares and short-term warrants to buy up to some 14.7 million shares at $0.85 per share and warrant. Investors also can also buy pre-funded warrants in lieu of shares.
Longeveron said some board members and insiders of the company are participating in the offering.
The company said the offering is expected to close Aug. 11, with H.C. Wainwright as the placement agent.
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