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Capricor Therapeutics Announces Closing of $5.1 Million Offering Priced At-the-Market
LOS ANGELES, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Capricor Therapeutics, Inc. (NASDAQ: CAPR), a clinical-stage biotechnology company focused on the development
About this update from Capricor Therapeutics, Inc.
[{"type":"text","content":"LOS ANGELES, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Capricor Therapeutics, Inc. (NASDAQ: CAPR), a clinical-stage biotechnology company focused on the development of first-in-class biological therapeutics for the treatment of Duchenne muscular dystrophy and other rare disorders, today announced the closing of the previously announced offering priced at-the-market of 4,139,477 shares of the Company’s common stock (or common stock equivalents), at a purchase price of $1.226 per share and associated warrant. In addition, select members of the Company's Board of Directors participated in the offering. Each share of common stock (or common stock equivalent) offered was sold with a warrant to purchase one share of common stock at an exercise price of $1.10 per share and a five-year term.\n H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds to Capricor, before deducting placement agent fees and other offering expenses, are approximately $5.1 million. Capricor currently intends to use the net proceeds from the offering to fund research and development of its exosome technologies and for general corporate purposes. The securities described above were sold by the Company pursuant to a registration statement on Form S-1 (File No. 333-235358) previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on December 17, 2019. A prospectus relating to the securities sold was filed with the SEC on December 19, 2019 and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to the offering may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing [email protected] or at the SEC’s website at http://www.sec.gov. This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful. Any offer, if at all, will be made only by means of the prospectus forming a part of the effective registration statement. About Capricor Therapeutics Capricor Therapeutics, Inc. (NASDAQ:CAPR) is a clinical-stage biotechnology company focused on the discovery, development and comm...