Celsion Corporation Announces Gross Proceeds of $15.6 Million from the Exercise of Existing Common Stock Warrants
Financing Accomplished with Minimal New Equity Issuance
Operating Runway Extended through 2018
The Exercise Agreements entered into on
"This significant capital infusion from the exercise of existing outstanding warrants at their original exercise prices is an example of our strategic approach to financing and is expected to extend the Company's operating horizon through full patient enrollment of our Phase III OPTIMA Study and likely through the first pre-planned efficacy assessment, anticipated now in late 2018, or early 2019," stated
The Exercise Agreements also provide for the issuance of 1,166,250 Series DDD Warrants, each to purchase one share of Common Stock. The Series DDD Warrants are initially exercisable no sooner than six months following issuance, and terminate six months following when the Series DDD Warrants are initially exercisable. The Series DDD Warrants have an exercise price no than less than
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Additional Information:
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, but not limited to, the amount and use of proceeds the Company
expects to receive from the sale of the shares of the securities offered, market conditions, and the closing of the transaction described in this press release, which is subject to customary conditions. Forward-looking statements can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Forward-Looking
Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K, dated
Investor Contact
Senior Vice President & CFO
609-482-2455
jchurch@celsion.com
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