Conexeu Sciences closes $5 million private placement
CNXU•Conexeu Sciences closed an approximately $5 million private placement of 1,666,667 units at $3 each. Proceeds will support working capital and development of Ten Minute Tissue, with an FDA 510(k) submission planned for the first quarter of 2027.
1. Offering details
The private placement was led by existing shareholders, including management and directors. Each unit consists of one common share and one warrant, exercisable at $3 per share for 24 months from issuance.
2. Approval and proceeds
Management and director subscriptions totaling $250,000 remain in escrow pending stockholder approval and will be returned if approval is not obtained. The company plans to use the proceeds for working capital and development of Ten Minute Tissue; an FDA 510(k) submission is planned for the first quarter of 2027.
