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Longeveron Rights Offering Declared Effective and Calendar Finalized
MIAMI, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ: LGVN) (“Longeveron” or “Company”), a clinical stage biotechnology company developing
About this update from Longeveron Inc.
[{"type":"text","content":"MIAMI, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ: LGVN) (“Longeveron” or “Company”), a clinical stage biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions such as hypoplastic left heart syndrome (HLHS), Alzheimer’s disease and Aging-related Frailty, announced today that its registration statement previously filed with the Securities and Exchange Commission to conduct a tradable subscription rights offering has been declared effective, and that it has finalized the rights offering calendar. The rights offering is being made through a distribution of five tradable subscription rights (to be listed on The NASDAQ Capital Market under the ticker symbol LGVNR) to purchase shares of Class A common stock for each share of common stock and warrant to purchase common stock owned on the record date, at a $3.00 subscription price per share. The rights offering includes an over-subscription privilege, entitling each rights holder that exercises all of its basic subscription rights in full the ability to purchase additional shares of Class A common stock that remain unsubscribed at the expiration of the rights offering, subject to the availability and pro rata allocation of shares among those exercising this over-subscription privilege. The registration statement also covers the placement of unsubscribed shares of Class A common stock for an additional period of up to 45 days following expiration of the offering, as well as the potential resale of subscription rights by the Company’s principal stockholders, directors and executive officers during the period for which the subscription rights may be transferred in accordance with the terms of the rights offering. The calendar for the rights offering is as follows: Thursday, August 17 LGVNV Rights begin to trade.Friday, August 18 Ex-Rights Day - LGVN shares trade without the rights attached.Friday, August 18 Record Date – This is the cutoff date that determines the eligibility of stockholders to receive rights.Tuesday, August 22 Subscription Period Begins – LGVNR rights are credited to brokerage accounts through DTCC.Thursday, September 21 Subscription Period Ends – 5:00 PM ET unless extended at the Company’s sole discretion See our Securities and Exchange Commission filings here for more details about the rights offering a...