Hancock Jaffe Laboratories, Inc. Announces Closing of $7.5 Million Initial Public Offering
June 05 2018 - 1:19PM
Hancock Jaffe Laboratories, Inc. (“HJLI”), a company specializing
in bioprosthetic medical devices to establish improved standards of
care for treating cardiac and vascular diseases, today announced
the closing of its previously announced initial public offering of
1,500,000 units, each unit consisting of one share of common stock
and a warrant to purchase one share of common stock, at an initial
public offering price of $5.00 per unit. Gross proceeds from the
IPO amount to $7,500,000 before underwriting discounts and
commissions. HJLI has also granted the underwriters a 45-day option
to purchase an additional 225,000 units at the initial public
offering price, which if exercised, would generate another
$1,125,000 of gross proceeds before underwriting discounts and
commissions.
The shares of common stock and warrants
underlying the units have been approved for listing on The Nasdaq
Capital Market and began trading under the ticker symbols “HJLI”
and “HJLIW,” respectively, on May 31, 2018.
Network 1 Financial Securities, Inc. was the
managing underwriter for the offering.
The Units were issued pursuant to an effective
registration statement on Form S-1 that was previously filed with
the Securities and Exchange Commission (“SEC”). A final prospectus
has been filed with the SEC and is available on the SEC’s website
at www.sec.gov. Copies of the prospectus relating to the offering
may be obtained from Network 1 Financial Securities, Inc., 2 Bridge
Ave #241, Red Bank, NJ 07701, or by e-mail at info@netw1.com, or by
telephone at 1-(800) 886-7007.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Hancock Jaffe Laboratories, Inc.
HJLI specializes in developing and manufacturing
bioprosthetic medical devices to establish improved standards of
care for treating cardiac and vascular diseases. HJLI currently has
three product candidates: the porcine tissue based VenoValve®,
which is intended to be surgically implanted in the deep venous
system of the leg to treat Chronic Venue Insufficiency; the
CoreoGraft®, a bovine tissue based off the shelf conduit intended
to be used for coronary artery bypass surgery, and a porcine tissue
based heart valve, which based upon its relatively small size and
increased output, is an ideal candidate for pediatric aortic/mitral
valve replacement.
HJLI Press Contacts:
Robert Berman, CEOTel: 949-261-2900Email: rob@HJLInc.com
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