Celularity comments on closing $21M financing transactions

Celularity announced that it closed two financing transactions totaling $21M in gross proceed. As detailed in the Form 8-K filed by the Company, one of the two financing transactions is a securities purchase agreement with the Company’s largest investor, Dragasac Limited providing for the private placement of shares of Celularity Class A common stock and accompanying warrants for an aggregate purchase price of approximately $6 million. The other financing transaction is an agreement amending and restating the Company’s previously announced senior secured loan agreement with Resorts World for an additional loan of $15.0 million. According to Robert Hariri, M.D., Ph.D., Chairman, Chief Executive Officer, and founder, “These transactions are important in two fundamental ways. First, both Dragasac and RWI increased their existing financial stakes in Celularity, Dragasac through the $6 million private placement and RWI through the $15 million amended and restated senior secured loan. Second, the transactions together infused $21 million of fresh capital into Celularity, which we will apply to strengthen our balance sheet and for other purposes. Importantly, this capital infusion allowed us last week to repay in full all outstanding amounts owed to Yorkville under the September 15, 2022, YA II PN, Ltd. pre-paid advance agreement… I believe the $21 million in new capital from these financing transactions has repositioned Celularity financially going into what I am optimistic will be a positive year in 2024,” Hariri added.