Longeveron Inc. announced that it has entered into a securities purchase agreement to issue 2,365,000 class A common shares at a price pf $1.65 per share and pre paid warrants at a price of $1.649 per warrant, unregistered series A warrants, unregistered series B warrants for the total gross proceeds of $3.90225 million on October 11, 2023. The pre funded warrants will enable to purchase up to 59,243 shares of common stock, at an exercise price of $0.001 per share, Series A warrants to purchase up to an aggregate of 2,424,243 shares of its Common Stock at an exercise price of $1.65 and unregistered Series B warrants to purchase up to an aggregate of 2,424,243 at an exercise price of $1.65. The transaction is expected to close on October 13, 2023.

As a part of the transaction, the company will pay placement agent fee of $39,022.5, $75,000 for non-accountable expenses and up to $15,950 for closing costs.