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Celsion Corp Announces $15 Million Registered Direct Offering


Friday, 22 Feb 2013 09:15am EST 

Celsion Corp announced that it has received commitments from institutional investors to purchase an aggregate of $15 million of the Company's securities 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 15,000 shares of its zero coupon preferred stock (which are convertible into a total of approximately 12.1 million shares of common stock) and warrants potentially exercisable for up to approximately 6.0 million additional shares of its common stock. In addition to the preferred stock not having a required dividend right, the preferred stock will not have any preferences over the Company's common stock, including no liquidation preference rights.Dawson James Securities, Inc. acted as exclusive placement agent in connection with the offering. 

Company Quote

2.631
0.051 +1.98%
24 Nov 2014