Why Longeveron (LGVN) Shares Are Falling Sharply

Longeveron Inc LGVN shares are trading lower by 22.8% to $1.25 Thursday morning after the company has finalized an agreement for a registered direct offering.

The offering involves the sale of 1,355,301 shares of common stock at $1.62 per share, with additional unregistered warrants for purchasing the same number of shares at the same price.

H.C. Wainwright & Co. is overseeing the offering as the exclusive placement agent. The expected gross proceeds amount to around $2.36 million, with the net proceeds intended for Longeveron's working capital and general corporate purposes.

The closing is projected around December 26, pending standard closing conditions.

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According to data from Benzinga Pro, MTCH has a 52-week high of $4.58 and a 52-week low of $1.40.