Current Report Filing (8-k)
March 13 2020 - 4:31PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of report (Date of earliest event reported): March 13, 2020 (March 12, 2020)
Celsion
Corporation
(Exact
Name of Registrant as Specified in Charter)
Delaware
|
|
001-15911
|
|
52-1256615
|
(State
or Other Jurisdiction
of
Incorporation)
|
|
(Commission
File
Number)
|
|
(I.R.S.
Employer
Identification
No.)
|
997
Lenox Drive, Suite 100, Lawrenceville, NJ 08648
(Address
of Principal Executive Offices, and Zip Code)
(609)
896-9100
Registrant’s
Telephone Number, Including Area Code
N/A
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
|
[ ]
|
Written communication
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
|
|
[ ]
|
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
|
|
[ ]
|
Pre-commencement
communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
|
|
[ ]
|
Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
Symbol(s)
|
|
Name
of each exchange on which registered
|
Common stock, par
value $0.01 per share
|
|
CLSN
|
|
Nasdaq Capital Market
|
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 1.01
|
Entry into a Material Definitive Agreement.
|
On
March 12, 2020, Celsion Corporation (the “Company”) entered into private exchange agreements (the “Exchange
Agreements”) with certain holders (the “Investors”) of warrants issued in connection with the Company’s
registered direct offering of common stock and warrants (the “Original Warrants”) issued on March 3, 2020. The Original
Warrants being exchanged provided for the purchase of up to an aggregate of 2,971,428 shares of the Company’s common stock,
par value $0.01 per share (the “Common Stock”) at an exercise price of $1.15, with an expiration date of September
3, 2025.
Pursuant to the Exchange
Agreements, in return for a higher exercise price of $1.24 per share of Common Stock, the Company issued new warrants to
the Investors to purchase up to 3,200,000 shares of Common Stock (the “Exchange Warrants”) in exchange for the Original
Warrants. The Exchange Warrants, like the Original Warrants, are initially exercisable six months following their issuance (the
“Initial Exercise Date”) and expire on the five year anniversary of the Initial Exercise Date. Other than having a
higher exercise price, different issue date, Initial Exercise Date and expiration date, the terms of the Exchange Warrants are
identical to those of the Original Warrants, additional terms of which are more fully described under Item 1.01 of the Company’s
Current Report on Form 8-K filed on March 3, 2020, which such terms are incorporated herein by reference.
The
above description of the Exchange Agreements and Exchange Warrants is qualified in its entirety by reference to the full and complete
terms of such agreements, such documents attached to this Current Report on Form 8-K as Exhibits 10.1 and 4.1, respectively, to
this Current Report on Form 8-K, and incorporated herein by reference.
Item
3.02
|
Unregistered
Sales of Equity Securities.
|
The
information contained above in Item 1.01 is hereby incorporated by reference into this Item 3.02 in its entirety.
(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
CELSION CORPORATION
|
|
|
|
Date: March 13,
2020
|
By:
|
/s/
Jeffrey W. Church
|
|
|
Jeffrey W. Church
|
|
|
Executive Vice President
|
|
|
and Chief Financial Officer
|
Celsion (NASDAQ:CLSN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Celsion (NASDAQ:CLSN)
Historical Stock Chart
From Apr 2023 to Apr 2024