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Celsion Corporation (the "Company")
CLSN today announced that it has received commitments from institutional investors to purchase an aggregate of approximately $15 million of the Company's common stock in an at-the-market registered direct offering, led by a dedicated health care fund.
The Company entered into definitive purchase agreements with these investors pursuant to which the Company agreed to sell an aggregate of 3,603,603 shares of its common stock at a per share price of $4.1625. Additionally, for each share of common stock purchased, investors will receive a Series A Warrant to purchase one-quarter of a share of our common stock at an exercise price of $4.10 per share, which shall be exercisable immediately and expire five years from the date of issuance, and a Series B Warrant to purchase one-quarter of a share of our common stock at an exercise price of $4.10 per share, which shall be exercisable immediately and expire one year from the date of issuance. The closing of the offering is expected to take place on or about January 21, 2014, subject to the satisfaction of customary closing conditions.
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