Longeveron Secures $4.4 Million from Warrant Exercise

Longeveron Inc., a biotechnology company focused on regenerative medicine, announced the completion of its previously disclosed exercise of warrants, resulting in the purchase of 1,697,891 shares of its Class A common stock. These shares, originally issued in April 2024, were bought at an exercise price of $2.35 per share. The transaction generated approximately $4.4 million in gross proceeds for the company before deducting placement agent fees and other expenses.

H.C. Wainwright & Co. served as the exclusive placement agent for this offering. As part of the transaction arrangement, Longeveron issued new unregistered warrants to purchase up to 3,395,782 shares of Class A common stock. These new warrants carry an exercise price of $2.50 per share and are exercisable immediately with a term of 24 months from the issuance date.

The funds raised through this exercise will be allocated to the continued clinical and regulatory development of Lomecel-B™, Longeveron's lead investigational product. Lomecel-B™ is aimed at treating several conditions including hypoplastic left heart syndrome (HLHS) and Alzheimer’s disease. The company will use the proceeds for regulatory approvals, capital expenditures, working capital, and other general corporate purposes.

The new warrants were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and are not registered under the Securities Act or applicable state securities laws. Consequently, these new warrants and the underlying shares of Class A common stock cannot be sold in the United States without an effective registration statement or an applicable exemption. Longeveron has agreed to file a registration statement with the Securities and Exchange Commission for the resale of the shares issuable upon exercise of the new warrants.

Longeveron is a clinical-stage biotechnology company developing cellular therapies for rare and chronic aging-related conditions. Its main product, Lomecel-B™, is a medicinal signaling cell (MSC) therapy derived from the bone marrow of healthy young adult donors. This therapy has mechanisms promoting vascular health, regeneration, anti-inflammatory actions, and tissue repair, offering potential applications across various diseases.

Longeveron is currently focusing its efforts on developing treatments for HLHS, Alzheimer’s disease, and Aging-related Frailty. The company aims to address unmet medical needs through its regenerative medicine approach.

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