Lawrenceville, NJ, June 22, 2020 (GLOBE NEWSWIRE) — Celsion Corporation (NASDAQ: CLSN), an oncology drug development company, today announced the entry into an underwriting agreement relating to the sale of 2,666,667 shares of its common stock at an offering price of $3.75 per share, less underwriting discounts and commission. The gross proceeds from the offering will be $10 million, before deducting underwriting discounts and commissions and estimated offering expenses. The shares of common stock are being sold to both existing and new institutional investors of the Company. The offering is expected to close on June 24, 2020, subject to satisfaction of customary closing conditions.
Oppenheimer & Co. Inc. is acting 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 shares are being offered by Celsion 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. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC, and will be 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 [email protected] or by calling (212) 667-8055.
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