Celsion Corporation (CLSN)

[TanMan7272]

Friday 10/27/2017 09:10 AM ET - GlobeNewsWire via Dow Jones News

Celsion Corporation Announces Pricing of Underwritten Offering of Common Stock and Warrants to Purchase Common Stock LAWRENCEVILLE, N.J., Oct. 27, 2017 (GLOBE NEWSWIRE) -- Celsion Corporation (the "Company") (NASDAQ:CLSN) today announced the pricing of an underwritten offering of 2,640,000 shares of its common stock and warrants to purchase up to 1,320,000 shares of common stock at an offering price of $2.50 per share and related warrants. Each share of common stock is being sold together with 0.50 warrants, with each whole warrant exercisable to purchase one whole share of common stock. The warrants have an exercise price of $3.00 per share, are not exercisable until 6 months after issuance and will terminate 5 years from the time each warrant is first exercisable. The gross proceeds of the offering are expected to be approximately $6.6 million, before deducting the underwriting discount and other estimated offering expenses. The closing of this offering is expected to take place on or about October 31, 2017, subject to the satisfaction of customary closing conditions.