Clene Announces $7.3 Million Registered Direct Offering and Concurrent Private Placements Priced at Market Under Nasdaq Rules

About this update from Clene Inc.

[{"type":"text","content":"SALT LAKE CITY, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Clene Inc. (Nasdaq: CLNN) (along with its subsidiaries, “Clene”) and its wholly-owned subsidiary Clene Nanomedicine Inc., a clinical-stage biopharmaceutical company focused on improving mitochondrial health and protecting neuronal function to treat neurological diseases, including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), today announced that on September 30, 2024 it entered into a securities purchase agreement with a healthcare focused institutional investor (“Healthcare Investor”) for the issuance and sale of 742,626 shares of its common stock (or pre-funded warrants in lieu thereof) in a registered direct offering priced at market under Nasdaq rules. In a concurrent private placement, Clene also agreed to issue to the Healthcare Investor warrants to purchase up to 742,626 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold with one warrant to purchase one share of common stock at a combined purchase price of $4.713. The warrants have an exercise price of $4.82 per share, are immediately exercisable and will expire five years following the date of issuance. Additionally, in a separate concurrent private placement priced at market under Nasdaq rules, certain of our existing stockholders (“Current Investors”) of the Company purchased 681,469 shares of common stock (or pre-funded warrants in lieu thereof). Clene also agreed to issue to the Current Investors warrants to purchase up to 681,469 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold with one warrant to purchase one share of common stock at a combined purchase price of $4.713. The warrants have an exercise price of $4.82 per share, are immediately exercisable and will expire five years following the date of issuance. Finally in a separate concurrent private placement priced at market under Nasdaq rules, directors and officers of Clene (the “Affiliated Investors”) purchased 122,819 shares of common stock. Clene also agreed to issue to the Affiliated Investors warrants to purchase up to 122,819 shares of common stock. Each share of common stock is being sold with one warrant to purchase one share of common stock at a combined purchase price of $4.875. The warrants have an exercise price of $4.82 ...

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