Longeveron files registration statement for rights offering

Longeveron announced that it has filed a registration statement with the SEC to conduct a tradeable subscription rights offering to its shareholders and holders of warrants to purchase common stock as of a future record date to be determined. Longeveron’s registration statement on Form S-1 covers a rights offering for up to $30M of shares of common stock. Under the terms of the rights offering, Longeveron expects to distribute a dividend, at no charge, five tradable subscription rights to purchase shares of its common stock to holders of record for each share of common stock held on the record date, and to holders of warrants to purchase common stock held on the record date. Each basic subscription right will entitle the holder of record to purchase one share of common stock at the subscription price to be determined. Holders as of the record date that exercise their basic subscription rights in full will also have an over-subscription privilege, pursuant to which they may subscribe to purchase additional shares at the subscription price to the extent that not all basic subscription rights are exercised, subject to certain limitations and as more fully described in a prospectus relating to the rights offering. The subscription rights will be exercisable during the subscription period, unless extended.