Longeveron Announces Closing Of Up To $17.5 Million Public Offering

Core Points - Longeveron Inc. has closed a public offering of 5,882,354 shares of Class A common stock at a price of $0.85 per share, with potential additional gross proceeds of up to $12.5 million from short-term warrants [1][3] - The company intends to use the net proceeds for ongoing clinical and regulatory development of laromestrocel, targeting conditions such as HLHS, Alzheimer's disease, and pediatric DCM, as well as for general corporate purposes [3][6] - H.C. Wainwright & Co. acted as the exclusive placement agent for this offering [2] Financial Details - The gross proceeds from the offering were approximately $5.0 million before deducting fees and expenses [3] - The short-term warrants have an exercise price of $0.85 per share and are immediately exercisable for a period of twenty-four months [1][3] Company Overview - Longeveron is a clinical stage biotechnology company focused on developing regenerative medicines, with its lead product being laromestrocel, an allogeneic mesenchymal stem cell therapy [6] - The company is pursuing four pipeline indications: HLHS, Alzheimer's disease, Pediatric Dilated Cardiomyopathy (DCM), and Aging-related Frailty [6] - Laromestrocel has received multiple FDA designations, including Orphan Drug and Fast Track designations for HLHS, and Regenerative Medicine Advanced Therapy designation for Alzheimer's disease [6]