CELSION CORPORATION ANNOUNCES $7.0 MILLION REGISTERED DIRECT OFFERING PRICED AT-THE-MARKET UNDER NASDAQ RULES
April 06 2022 - 8:30AM
Celsion Corporation (NASDAQ: CLSN) (“Celsion” or the
“Company”), today announced it has entered into definitive
agreements with institutional investors for the purchase and sale
of 1,328,274 shares of its common stock at a purchase price
of $5.27 per share in a registered direct offering priced
at-the-market under Nasdaq rules, for gross proceeds of $7.0
million before deducting placement agent fees and expenses.
The closing of the offering is expected to occur on or
about April 8, 2022, subject to the satisfaction of customary
closing conditions.
A.G.P./Alliance Global Partners is acting
as sole placement agent for the offering.
This offering is being made pursuant to the
Company’s shelf registration statement on Form S-3 (File No.
333-254515) previously filed with the U.S. Securities and
Exchange Commission (the “SEC”) under the Securities Act of
1933, as amended, which was declared effective by the SEC on March
30, 2021. A prospectus supplement describing the terms of the
proposed offering will be filed with the SEC and will be
available on the SEC’s website located at http://www.sec.gov.
Electronic copies of the prospectus supplement may be obtained,
when available, from A.G.P./Alliance Global Partners, 590
Madison Avenue, 28th Floor, New York, NY 10022, or by
telephone at (212) 624-2060, or by email
at prospectus@allianceg.com. Before investing in this
offering, interested parties should read in their entirety the
prospectus supplement and the accompanying prospectus and the other
documents that the Company has filed with the SEC that
are incorporated by reference in such prospectus supplement and the
accompanying prospectus, which provide more information about the
Company and such offering.
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 Celsion
Corporation
Celsion is a fully integrated, clinical
stage biotechnology company focused on advancing a portfolio of
innovative cancer treatments, including immunotherapies and
DNA-based therapies; and a platform for the development of nucleic
acid vaccines currently focused on SARS-CoV2. The company’s product
pipeline includes GEN-1, a DNA-based immunotherapy for the
localized treatment of ovarian cancer. Celsion also has two
platform technologies for the development of novel nucleic
acid-based immunotherapies and other anti-cancer DNA or RNA
therapies. Both are novel synthetic, non-viral vectors with
demonstrated capability in nucleic acid cellular transfection. For
more information on Celsion, visit www.celsion.com.
Forward-Looking Statements
Celsion wishes to inform readers that
forward-looking statements in this release are made pursuant to the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 and other federal securities laws. Readers
are cautioned that such forward-looking statements involve risks
and uncertainties including, without limitation, unforeseen changes
in the course of research and development activities and in
clinical trials; the uncertainties of and difficulties in analyzing
interim clinical data; the significant expense, time, and risk of
failure of conducting clinical trials; the need
for Celsion to evaluate its future development plans;
possible acquisitions or licenses of other technologies, assets or
businesses; possible actions by customers, suppliers, competitors,
regulatory authorities; and other risks detailed from time to time
in Celsion's periodic reports and prospectuses filed with
the SEC. Celsion assumes no obligation to update or
supplement forward-looking statements that become untrue because of
subsequent events, new information or otherwise.
Celsion Investor Contact:
Jeffrey W. ChurchExecutive Vice President and
CFO609-482-2455jchurch@celsion.com
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