Celsion Corporation Announces $18.4 Million in Financing

Celsion Corporation CLSN today announced that it has received commitments from investors to purchase an aggregate of $18.4 million of the Company's securities, of which $13.0 million are from institutional investors in a registered direct offering and an additional $5.4 million are from other investors. In the registered direct offering, the Company entered into definitive purchase agreements with investors pursuant to which the Company agreed to sell an aggregate of approximately 3.0 million shares of its common stock and warrants potentially exercisable for up to approximately 914,305 additional shares of its common stock. The securities will be sold in units at a price of $4.2575 per unit, with each unit consisting of one share of common stock and a warrant to purchase 0.3 shares of common stock. In the private placement, the Company entered into definitive purchase agreements with other institutional investors, a member of the Company's Board of Directors, and an investor affiliated with another member of the Company's Board of Directors pursuant to which the Company agreed to sell an aggregate of approximately 1.3 million shares of its common stock and warrants potentially exercisable for up to approximately 512,412 additional shares of its common stock. The securities will be sold in units at a price of $4.27 per unit, with each unit consisting of one share of common stock and a warrant to purchase 0.4 shares of common stock.