Hancock Jaffe Laboratories, Inc. Announces Full Exercise of $1,125,000 Underwriter’s Over Allotment
June 12 2018 - 2:40PM
Hancock Jaffe Laboratories, Inc. (Nasdaq:HJLI) (Nasdaq:HJLIW), a
company specializing in bioprosthetic medical devices to establish
improved standards of care for treating cardiac and vascular
diseases, today announced that Network 1 Financial Securities,
Inc., the managing underwriter for the company’s recent initial
public offering (“IPO”), has exercised the full underwriters’
over-allotment option of 225,000 units, at the IPO price of $5.00
per unit. Each unit consists of one share of common stock and
a warrant to purchase one share of common stock. Gross proceeds
from the exercise of the over-allotment option amount to $1,125,000
before underwriting discounts and commissions, bringing the total
gross proceeds from the IPO to $8,625,000 before underwriting
discounts and commissions.
Additionally, the company announced that it has
filed a new registration statement today with the Securities and
Exchange Commission (“SEC”) on Form S-1, to register for resale a
portion of the common stock issued upon conversion of previously
outstanding convertible promissory notes, and common stock that is
issuable upon exercise of certain outstanding warrants, the
remainder of which had been registered pursuant to the registration
statement filed concurrently with the IPO.
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:
RBerman@HancockJaffe.com
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