Clene(US:CLNN) GlobeNewswire News Room·2024-09-30 12:30Core Viewpoint - Clene Inc. has entered into a securities purchase agreement for the issuance and sale of common stock and warrants, aiming to raise approximately $7.3 million to fund clinical development and other corporate purposes [1][4]. Group 1: Securities Offering Details - Clene Inc. will issue 742,626 shares of common stock to a healthcare-focused institutional investor at a combined purchase price of $4.713 per share, along with warrants for the same number of shares [1]. - Current investors purchased 681,469 shares of common stock at the same price of $4.713 per share, also receiving warrants for the same number of shares [2]. - Directors and officers of Clene purchased 122,819 shares at a combined purchase price of $4.875 per share, with accompanying warrants [3]. Group 2: Financial Proceeds and Use of Funds - The gross proceeds from the offerings are expected to be approximately $7.3 million, which will be used for general corporate purposes, including funding clinical development of the lead drug candidate CNM-Au8® [4]. - The funds will also support ongoing and planned clinical trials, regulatory activities, and early-stage research and development [4]. Group 3: Regulatory and Compliance Information - The common stock offered is pursuant to a "shelf" registration statement filed with the SEC, and the offerings are expected to close on or about October 1, 2024 [5][4]. - The private placements are made in reliance on exemptions from registration under the Securities Act, and the company will register the shares for resale following the closing of the transactions [6][7]. Group 4: Company Overview - Clene Inc. is a clinical-stage biopharmaceutical company focused on improving mitochondrial health to treat neurological diseases, including ALS and MS [8]. - The lead drug candidate, CNM-Au8®, is an investigational therapy aimed at enhancing neuronal function and reducing oxidative stress [8].