NewcelX Secures $1.35M Private Placement at 30% Premium to Advance NCEL-101
NewcelX raised $1.35 million in a private placement at $2.75 per share, 30% above the March 31 close, selling 490,907 common shares and warrants for 687,270 shares exercisable at $3.025. Proceeds, plus a $25 million equity line, will fund advancement of its lead NCEL-101 Type 1 Diabetes program.
1. Financing Overview
NewcelX entered into a private placement agreement to raise $1.35 million at $2.75 per share, representing a 30% premium to the closing price on March 31, 2026.
2. Transaction Terms
The offering consisted of 490,907 common shares and warrants to purchase 687,270 shares, with the warrants exercisable at $3.025 per share.
3. Participation and Timeline
Existing shareholders participated in the placement, which is expected to close on or about April 15, 2026, subject to customary closing conditions.
4. Use of Proceeds and Pipeline Focus
Net proceeds and a previously announced $25 million equity line will support the NCEL-101 Type 1 Diabetes program in collaboration with Eledon Pharmaceuticals, other pipeline initiatives, working capital and general corporate purposes.