Lineage Cell Therapeutics, Inc. (LCTX) has released an update to notify the public and investors about an entry into a material definitive agreement.
Lineage Cell Therapeutics, Inc. has struck a deal to sell over 13 million of its common shares in a registered direct offering at $1.04 each, aiming to raise $14 million. Key investors include board members Neal Bradsher and Don M. Bailey. Slated to close around February 8, 2024, the proceeds will bolster Lineage’s general corporate funds, covering clinical trials, R&D, and operational expenses. This move, consistent with SEC regulations, exemplifies strategic capital raising in the biotech sector, showcasing investor confidence and the company’s commitment to growth.
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For a comprehensive understanding of the announcement, you can read the full document here.
