CollPlant Announces Closing of $35.0 Million Registered Direct Offering of American Depositary Shares
February 18 2021 - 7:00AM
CollPlant Biotechnologies (NASDAQ:CLGN), today announced that
it has closed the previously announced registered direct offering
for the purchase and sale of an aggregate of 2,000,000 of the
Company's American Depositary Shares (ADSs), at a purchase price
of $17.50 per ADS. Each ADS represents one (1)
ordinary share, par value NIS 1.50 per share, of
CollPlant.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering.
The gross proceeds from the offering, before deducting the
placement agent's fees and other offering expenses payable by the
Company, were $35.0 million. CollPlant intends to use the net
proceeds for general corporate purposes, which may include but are
not limited to working capital and funding the development of
regenerative and aesthetic medicine products.
The ADSs were offered by CollPlant pursuant to a "shelf"
registration statement on Form F-3 (File No. 333-229486) originally
filed with the U.S. Securities and Exchange Commission (the “SEC”)
on February 1, 2019 and declared effective by the SEC
on February 22, 2019. The offering of the ADSs was made only
by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. The final
prospectus supplement and the accompanying prospectus relating to
the ADSs being offered have been filed with the
SEC. Electronic copies of the final prospectus supplement and
the accompanying prospectus may be obtained on the SEC's website
at http://www.sec.gov or by contacting H.C.
Wainwright & Co., LLC at 430 Park Avenue, 3rd
Floor, New York, NY 10022, by phone at (646) 975-6996 or
e-mail at placements@hcwco.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About CollPlant
CollPlant is a regenerative and aesthetic medicine company
focused on 3D bioprinting of tissues and organs, and medical
aesthetics. CollPlant's products are based on its rhCollagen
(recombinant human collagen) that is produced with CollPlant's
proprietary plant based genetic engineering technology.
CollPlant's products address indications for the diverse fields
of tissue repair, aesthetics and organ manufacturing, and are
ushering in a new era in regenerative and aesthetic medicine.
CollPlant's flagship rhCollagen BioInk product line is ideal for
3D bioprinting of tissues and organs. In 2018, CollPlant entered
into a licensing agreement with United Therapeutics, whereby United
Therapeutics is using CollPlant's BioInks in the manufacture of 3D
bioprinted lungs for transplant in humans. CollPlant recently
signed an agreement for dermal filler and soft tissue fillers with
Allergan, an AbbVie company, the global leader in the dermal filler
market.
For more information, visit http://www.collplant.com.
Contacts at CollPlant:
Eran RotemDeputy CEO & Chief Financial OfficerTel: +
972-73-2325600/631Email: Eran@collplant.com
Safe Harbor for Forward-Looking
Statements
This press release may include forward-looking statements.
Forward-looking statements may include, but are not limited to,
statements relating to CollPlant's objectives, plans and
strategies, as well as statements, other than historical facts,
that address activities, events or developments that CollPlant
intends, expects, projects, believes or anticipates will or may
occur in the future. These statements are often characterized by
terminology such as "believes," "hopes," "may," "anticipates,"
"should," "intends," "plans," "will," "expects," "estimates,"
"projects," "positioned," "strategy" and similar expressions and
are based on assumptions and assessments made in light of
management's experience and perception of historical trends,
current conditions, expected future developments and other factors
believed to be appropriate, including the intended use of proceeds
from the offering. Forward-looking statements are not guarantees of
future performance and are subject to risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied in such statements. Many factors could cause
CollPlant's actual activities or results to differ materially from
the activities and results anticipated in forward-looking
statements, including, but not limited to, the following:
CollPlant’s history of significant losses and its need to raise
additional capital and its inability to obtain additional capital
on acceptable terms, or at all; CollPlant’s expectations regarding
the timing and cost of commencing clinical trials with respect to
products which are based on CollPlant’s rhCollagen; CollPlant’s
ability to obtain favorable pre-clinical and clinical trial
results; regulatory action with respect to the products, including
but not limited to acceptance of an application for marketing
authorization, review and approval of such application, and, if
approved, the scope of the approved indication and labeling;
commercial success and market acceptance of the products;
CollPlant’s ability to establish sales and marketing capabilities
or enter into agreements with third parties and its reliance on
third-party distributors and resellers; CollPlant’s ability to
establish and maintain strategic partnerships and other corporate
collaborations; CollPlant’s reliance on third parties to conduct
some aspects of its product manufacturing; the scope of protection
CollPlant is able to establish and maintain for intellectual
property rights and the companies’ ability to operate their
business without infringing the intellectual property rights of
others; the overall global economic environment; the impact of
competition and new technologies; general market, political, and
economic conditions in the countries in which the companies
operate; projected capital expenditures and liquidity; changes in
the companies’ strategy; and litigation and regulatory proceedings.
More detailed information about the risks and uncertainties
affecting CollPlant is contained under the heading "Risk Factors"
included in CollPlant's most recent annual report on Form 20-F,
respectively, filed with the SEC, and in other filings that
CollPlant has made and may make with the SEC in the future. The
forward-looking statements contained in this press release are made
as of the date of this press release and reflect CollPlant's
current views with respect to future events, and neither company
undertakes, and each company specifically disclaims, any obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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