Business
CollPlant Announces $35.0 Million Registered Direct Offering of American Depositary Shares
REHOVOT, Israel, Feb. 11, 2021 (GLOBE NEWSWIRE) -- CollPlant Biotechnologies (NASDAQ:CLGN), today announced that it has entered into definitive agreements
About this update from Collplant Biotechnologies Ltd.
[{"type":"text","content":"REHOVOT, Israel, Feb. 11, 2021 (GLOBE NEWSWIRE) -- CollPlant Biotechnologies (NASDAQ:CLGN), today announced that it has entered into definitive agreements with several healthcare-focused and other institutional investors for the purchase and sale of 2,000,000 of the Company's American Depositary Shares (ADSs), at a purchase price of $17.50 per ADS, in a registered direct offering. Each ADS represents one (1) ordinary share, par value NIS 1.50 per share, of CollPlant. The offering is expected to close on or about February 17, 2021, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses payable by the Company, are expected to be $35.0 million. CollPlant intends to use the net proceeds for general corporate purposes, which may include but are not limited to working capital and funding the development of regenerative and aesthetic medicine products. The ADSs are being offered by CollPlant pursuant to a \"shelf\" registration statement on Form F-3 (File No. 333-229486) originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 1, 2019 and declared effective by the SEC on February 22, 2019. The offering of the ADSs is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the ADSs being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About CollPlant CollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organ...