Celsion Corporation Announces Closing of Public Offering of Common Stock
June 24 2020 - 4:15PM
Celsion Corporation (NASDAQ: CLSN), an oncology drug development
company, today announced the closing of its previously announced
public offering of 2,666,667 shares of common stock, resulting in
net proceeds of $9.3 million, after deducting underwriting
discounts and commissions but before expenses payable by the
Company.
Oppenheimer & Co. Inc. acted as the sole
underwriter for the offering.
Celsion intends to use the net proceeds for
clinical development of our product candidates, working capital and
other general corporate purposes. This offering was made
pursuant to an effective shelf registration statement on Form S-3
(File No. 333-227236), previously filed with the Securities and
Exchange Commission (SEC) on September 7, 2018 and declared
effective on October 12, 2018. The offering of the shares of common
stock were made by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration statement.
A prospectus supplement and the accompanying prospectus relating to
and describing the terms of the offering are filed with the SEC,
and are available on the SEC’s website at
http://www.sec.gov or by contacting Oppenheimer & Co. Inc.
at 85 Broad Street, 26th Floor, New York, NY 10004, Attention:
Equity Syndicate Prospectus Department, by e-mail
at equityprospectus@opco.com or by calling (212)
667-8055.
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 state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or other jurisdiction.
About Celsion Corporation
Celsion is a fully integrated oncology company
focused on developing a portfolio of innovative cancer treatments,
including directed chemotherapies, immunotherapies and RNA- or
DNA-based therapies. Celsion’s lead program is ThermoDox®, a
proprietary heat-activated liposomal encapsulation of doxorubicin,
currently in Phase III development for the treatment of primary
liver cancer. The pipeline also includes GEN-1, a DNA-based
immunotherapy for the localized treatment of ovarian cancer.
Celsion has two platform technologies for the development of novel
nucleic acid-based immunotherapies and other anti-cancer DNA or RNA
therapies. For more information on Celsion, visit our website:
http://www.celsion.com.
This press release contains forward-looking
statements that involve substantial risks and uncertainties. All
statements pertaining to Celsion’s expectations regarding the
expected use of proceeds described in this press release
constitute forward-looking statements. All statements, other than
statement of historical facts (including, but not limited to,
statements that contain words such as “will,” “believes,” “plans,”
“anticipates,” “expects,” “estimates”) are forward-looking
statements. Actual results or events could differ materially from
the plans, intentions, expectations and projections disclosed in
the forward-looking statements. Various important factors could
cause actual results or events to differ materially from the
forward-looking statements that Celsion makes, including, but not
limited to, uncertainties associated with market conditions and the
completion of the public offering on the anticipated terms or at
all and other risks described in the “Risk Factors” sections of
Celsion’s most recent annual report filed with
the SEC on March 25, 2020, quarterly report filed
with the SEC on May 15, 2020, the prospectus
supplement related to the public offering and in other filings with
the SEC. Celsion does not assume any obligation to update any
forward-looking statements, except as required by law.
Celsion Investor Contact
Jeffrey W. ChurchExecutive Vice President and
CFO609-482-2455 jchurch@celsion.com
Or
LHA Investor RelationsKim
Sutton Golodetz212-838-3777kgolodetz@lhai.com
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