MIAMI – February 12, 2021 – Buchanan Ingersoll & Rooney served as counsel to Longeveron Inc. (NASDAQ:LGVN), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and life-threatening conditions, for the company’s underwritten initial public offering of 2,660,000 shares of common stock at a public offering price of $10.00 per share for aggregate gross proceeds of $26,600,000 prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 399,000 shares at the public offering price less the underwriting discounts and commissions. The offering is expected to close on February 17, 2021, subject to satisfaction of customary closing conditions.
Longeveron intends to use the net proceeds from the offering primarily to fund research and development (including clinical trials), to expand and optimize its manufacturing capacity, and for working capital and other general corporate purposes.
“As a firm with a deep bench in the life sciences industry, we are very proud to assist our long time client Longeveron with their IPO and Nasdaq listing. A truly exciting time for a company working to develop new cutting-edge therapies for specific aging related and life-threatening conditions,” said Jennifer Minter, Chair of the firm’s Corporate section.
The Buchanan team was led by Jennifer Minter, Brian North, Shareholder in Corporate, and Jack Kessler, Shareholder in Tax, and assisted by Bruce Booken, Shareholder in Tax, Duane Stewart, Shareholder in Intellectual Property, Barbara Binzak Blumenfeld, Shareholder in FDA, Adam Wicks, Associate in Corporate, Meghan Foyle, Associate in Corporate, Sarah Tobias, Associate in Corporate, John Warner, Shareholder in Tax, and Daniel Walters, Associate in Tax.