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Liquidia Corporation Announces $21.7 Million Private Placement
RESEARCH TRIANGLE PARK, N.C., April 13, 2021 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) announced today that it has entered into a common stock
About this update from Liquidia Corporation
[{"type":"text","content":"RESEARCH TRIANGLE PARK, N.C., April 13, 2021 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) announced today that it has entered into a common stock purchase agreement with certain institutional, accredited investors for the private placement of 8,626,037 shares of common stock at a purchase price of $2.52 per share, the closing price per share of common stock on April 12, 2021. The private placement is expected to close today and yield gross proceeds of approximately $21.7 million. The investor group was led by Caligan Partners LP and includes participation by existing directors Paul Manning and Roger Jeffs. Upon closing, David Johnson, a Partner and Co-Founder of Caligan Partners LP, will be appointed to the board of directors of Liquidia Corporation as a Class II Director and a member of the Audit Committee. Previously, Mr. Johnson worked at The Carlyle Group as Managing Director and at Morgan Stanley as Vice President in the Principal Investments area. Mr. Johnson was previously a director of AMAG Pharmaceuticals. Stephen Bloch, M.D., Chairman of the Liquidia Board of Directors, said: “Adding David to the Board further strengthens our abilities to navigate financial markets and advise Liquidia with the short and long term in mind. We look forward to bringing his experiences to bear in future discussions.” David Johnson said: “We are excited to support Liquidia’s commitment to bring novel therapies to market for patients with pulmonary arterial hypertension (PAH). Caligan believes that LIQ861 will be the best inhaled option to treat PAH because of its convenience and ability to safely provide symptomatic relief at higher dosage levels than existing inhaled treprostinil therapies. We are also excited about Liquidia’s recent announcement that its subcutaneous Treprostinil Injection will soon be available to PAH patients. We have tremendous confidence in Damian deGoa and the Liquidia team to execute on their strategic plan and look forward to working closely with them during their next stage of growth.” Damian deGoa, Chief Executive Officer of Liquidia, said: “We are fortunate to include David Johnson on the board and to bring smart, committed investors into Liquidia. This financing builds on several steps taken during the last three months to strengthen our balance sheet and position the company for an exciting future.”...