Lineage Cell to sell 13.461M shares at $1.04 in registered direct offering

Lineage Cell Therapeutics announced that it entered into a definitive agreement with certain investors for the purchase and sale of 13,461,540 of the company’s common shares in a registered direct offering at an offering price of $1.04 per common share. The price per share was the closing price of the company’s common shares on NYSE American on February 5. The parties entered into the definitive agreement before markets opened on February 6. The closing of the offering is expected to occur on or about February 8, subject to the satisfaction of customary closing conditions. Broadwood Partners, L.P., which is affiliated with Neal Bradsher, a member of the company’s board of directors, agreed to purchase 6,730,770 common shares in the offering, and Don Bailey, a member of the company’s board of directors, agreed to purchase approximately 100,000 common shares in the offering.