On January 26, 2021 Celsion Corporation (NASDAQ: CLSN), an oncology drug development company, reported 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 (Press release, Celsion, JAN 26, 2021, View Source [SID1234574346]).
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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 View Source 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 [email protected].
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.