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Capricor Therapeutics Announces Pricing of $5.1 Million Offering Priced At-the-Market
LOS ANGELES, Dec. 17, 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. 17, 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 that it has entered into a definitive securities purchase agreement with a single, healthcare-dedicated institutional investor for the purchase in an offering priced at-the-market of 4,078,304 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 are participating 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. is acting as the exclusive placement agent for the offering. The gross proceeds to Capricor, before deducting placement agent fees and other offering expenses, are expected to be approximately $5.1 million. The closing of the sale of the securities is expected to occur on or about December 19, 2019, subject to the satisfaction of customary closing conditions. 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 are being offered 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 preliminary prospectus relating to the securities being offered was filed with the SEC on December 13, 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, when available, 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 i...