Comera Life Sciences Closes $3.6 Million Private Placement Priced At-the-Market under Nasdaq Rules
January 04 2023 - 4:15PM
Comera Life Sciences Holdings, Inc. (Nasdaq: CMRA), a life sciences
company developing a new generation of bio-innovative biologic
medicines to improve patient access, safety, and convenience, today
announced that it has completed a private placement to existing
stockholders, of 2,406,242 units, at a purchase price of $1.48 per
unit, with each unit consisting of one share of the Company’s
common stock and one five-year warrant to purchase two shares of
the Company’s common stock at an exercise price of $1.23 per share,
pursuant to the terms of a Securities Purchase Agreement entered
into on January 2, 2023. Gross proceeds from the private placement
of approximately $3.6 million are expected to be used for working
capital and general corporate purposes.
The private placement was led by existing
investors, Charles Cherington and David Soane, as well as Roopom
Banerjee, Barbara Finck, Kirsten Flowers, Stuart Randle, Rev. Dr.
James Sherblom and Edward Sullivan, members of the Company’s board
of directors.
“We appreciate the continued support and
confidence of existing investors and the members of our Board of
Directors. This infusion of capital will support our efforts to
leverage our SQore™ platform to transform the delivery of biologics
from intravenous to subcutaneous form, and achieve our mission of
improving patient quality of life by offering treatments that
support greater independence,” said Jeffrey Hackman, Chairman and
Chief Executive Officer of Comera.
The securities sold in the private placement,
including the shares of common stock underlying the warrants, are
being made in a transaction not involving a public offering and
have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States except
pursuant to an effective registration statement or an applicable
exemption from the registration requirements. Concurrently with the
closing, Comera and the investors entered into a registration
rights agreement pursuant to which the Company has agreed to file a
registration statement with the Securities and Exchange Commission
registering the resale of the securities sold in the private
placement.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Comera Life Sciences
Leading a compassionate new era in medicine,
Comera Life Sciences is applying a deep knowledge of formulation
science and technology to transform essential biologic medicines
from intravenous (IV) to subcutaneous (SQ) forms. The goal of this
approach is to provide patients with the freedom of self-injectable
care, reduce institutional dependency and to put patients at the
center of their treatment regimen. To learn more about the Comera
Life Sciences mission, as well as the proprietary SQore™ platform,
visit https://comeralifesciences.com/.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of the federal securities laws.
These forward-looking statements generally are identified by the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
like the anticipated use of proceeds from the private placement
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including, but
not limited to: risks that the recently completed business
combination disrupts the Company’s current plans and ability to
retain its employees; the Company’s ability to maintain the listing
of its securities on the Nasdaq Capital Market; the effect of the
COVID-19 pandemic on the Company’s business; the price of the
Company’s securities may be volatile due to a variety of factors,
including changes in the competitive and highly regulated
industries in which the Company plans to operate, variations in
performance across competitors, changes in laws and regulations
affecting the Company’s business and changes in the capital
structure; the ability to implement business plans, forecasts, and
other expectations and identify and realize additional
opportunities; the risk of downturns and the possibility of rapid
change in the highly competitive industry in which the Company
operates; the risk that the Company and its current and future
collaborators are unable to successfully develop and commercialize
the Company’s products or services, or experience significant
delays in doing so; the risk that we will be unable to continue to
attract and retain third-party collaborators, including
collaboration partners and licensors; the risk that the Company may
never achieve or sustain profitability; the risk that the Company
will need to raise additional capital to execute its business plan,
which may not be available on acceptable terms or at all; the risk
that the Company experiences difficulties in managing its growth
and expanding operations; the risk that third-party suppliers and
manufacturers are not able to fully and timely meet their
obligations; the risk that the Company is unable to secure or
protect its intellectual property; the risk that the Company is
unable to secure regulatory approval for its product candidates;
general economic conditions; and other risks and uncertainties
indicated in the Quarterly Report on Form 10-Q filed with the SEC
on November 14, 2022 under “Risk Factors” and in other filings that
have been made or will be made with the SEC. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of Comera’s Quarterly Report on Form
10-Q filed with the SEC on November 14, 2022, and other documents
filed by Comera from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Comera assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise. Comera can give no
assurance that it will achieve its expectations.
Contacts
Comera Investor
John Woolford ICR Westwicke John.Woolford@westwicke.com
Comera Press
Jon YuICR Westwickecomerapr@westwicke.com
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