CELSION CORPORATION ANNOUNCES CLOSING OF $35 MILLION REGISTERED DIRECT OFFERING OF COMMON STOCK PRICED AT-THE-MARKET UNDER NA...
January 26 2021 - 5:00PM
Celsion Corporation (NASDAQ: CLSN), an oncology drug development
company, today announced the closing of its previously announced
registered direct offering of 25,925,925 shares of common stock at
a purchase price of $1.35 per share, priced at-the-market under
Nasdaq rules, resulting in net proceeds of $32.6 million, after
deducting placement agents' fees but before expenses payable by the
Company.
A.G.P./Alliance Global Partners acted as the
lead placement agent for the offering.
Brookline Capital Markets, a division of Arcadia
Securities, LLC, acted as co-placement agent for the offering.
Celsion intends to use the net proceeds for
general corporate purposes, including research and development
activities, capital expenditures and working capital. This
offering was made pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-227236), previously filed with
the Securities and Exchange Commission (the “SEC”) on September 7,
2018 and declared effective on October 12, 2018, and an additional
registration statement pursuant to Rule 462(b) (File No.
333-252320) under the Securities Act of 1933, as amended. The
offering of the shares of common stock were made by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement. A prospectus supplement and
the accompanying prospectus relating to and describing the terms of
the offering are filed with the SEC and are available on the SEC’s
website at http://www.sec.gov or by contacting 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.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or other jurisdiction.
About Celsion Corporation
Celsion is a fully integrated, development stage
oncology company focused on advancing a portfolio of innovative
cancer treatments, including immunotherapies, DNA-based therapies
and directed chemotherapies through clinical trials and eventual
commercialization. The Company’s product pipeline includes GEN-1, a
DNA-based immunotherapy for the localized treatment of ovarian
cancer and ThermoDox®, a proprietary heat-activated liposomal
encapsulation of doxorubicin, currently in clinical evaluation for
the treatment of primary liver cancer and in investigator-sponsored
development for other cancer indications. Celsion has two
feasibility stage 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: http://www.celsion.com.
(CLSN-FIN).
Forward-Looking Statements
Forward-looking statements in this news release
are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Readers are cautioned
that such forward-looking statements involve risks and
uncertainties including, without limitation, statements relating to
the offering and the use of proceeds therefrom, unforeseen changes
in the course of research and development activities and in
clinical trials; the uncertainties of and difficulties in analyzing
interim clinical data, particularly in small subgroups that are not
statistically significant; FDA and regulatory uncertainties and
risks; 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 or regulatory authorities; and
other risks detailed from time to time in the Celsion's periodic
filings with the Securities and Exchange Commission. 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.comorLHA Investor RelationsKim
Sutton Golodetz212-838-3777kgolodetz@lhai.com
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