NewcelX prices USD 1.4 million private placement at USD 4.03 per share
NLSP•Use of proceeds
Proceeds are earmarked to advance NCEL-101 for type 1 diabetes, with Eledon Pharmaceuticals, and the remaining funds are for working capital.
Offering structure
The securities are to be issued in an unregistered offering under Section 4(a)(2) and Regulation D.
Private placement pricing and terms
NewcelX priced a USD 1.4 million private placement at USD 4.03 per share, a 20% premium to the July 30 close.
The deal covers 347,134 common shares, with warrants for 347,134 shares at a USD 4.44 exercise price. Closing is targeted for about Aug. 14, subject to customary conditions.
