Business
CollPlant Biotechnologies Raising $4.45 Million in U.S. Private Placement
Funds are being raised from accredited U.S. investors with deep expertise in medical and 3D printing REHOVOT, Israel, Feb. 14, 2020 /PRNewswire/ -- CollPlant
About this update from Collplant Biotechnologies Ltd.
[{"type":"text","content":"Funds are being raised from accredited U.S. investors with deep expertise in medical and 3D printing\n\n\nREHOVOT, Israel, Feb. 14, 2020 /PRNewswire/ -- CollPlant (NASDAQ: CLGN) (the \"Company\"), a regenerative and aesthetic medicine company, announced it has entered into definitive agreements for up to $4.45 million. The capital raise is by way of a non-brokered private placement with U.S. accredited investors who have many years of deep experience in medical and 3D printing. \nIn connection with the offering, the Company will issue 445,000 American Depositary Shares (ADSs) of the Company at a price of $10.00 per ADS. The transaction does not include any warrants. The closing of the offering is expected to take place within seven business days, subject to the satisfaction of customary closing conditions.\n\"We are proud to welcome U.S. investors who have substantial knowledge of the primary activity areas of CollPlant and are in alignment with our corporate strategy,\" stated Yehiel Tal, the Chief Executive Officer of CollPlant. \"We intend to use these funds to continue to develop groundbreaking treatment options for patients through our recombinant human collagen (rhCollagen) technology platform. We look forward to sharing additional company updates on our clinical development programs and strategic partnerships in future announcements.\"\nThe securities described above are being offered and sold in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended and Regulation D promulgated thereunder, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout CollPlant\nCollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs, and medical aesthetics. Our products are based on our rhCollagen (recombinant human collagen) that is produced with CollPlant...