Longeveron Raises a Total of $11.4 Million in Gross Proceeds from Warrant Exercise Offering and Public Offering

MIAMI, April 18, 2024 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ: LGVN) (“Longeveron” or the “Company”), a clinical stage biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions such as hypoplastic left heart syndrome (HLHS), Alzheimer’s disease and Aging-related Frailty, today announced the closing of its previously announced exercise of certain existing warrants to purchase an aggregate of 2,399,744 shares of its Class A common stock having an exercise price of $2.35 per share, originally issued in October 2023 and April 2024. The issuance or resale of the shares of Class A common stock issuable upon exercise of the existing warrants, as applicable, are registered pursuant to effective registration statements on Form S-1 (File Nos. 333-275578 and 333-278073). The Company anticipates that this additional funding will enable it to make significant progress in its HLHS program, including advancing enrollment in the on-going clinical trial towards completion as well as advancing understanding of the potential to use this trial as a pivotal trial for accelerated or final approval of Lomecel-B^TM for HLHS.

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