CollPlant (CLGN)

[Paullee]

CollPlant Biotechnologies Raising $4.45 Million in U.S. Private Placement
PR Newswire PR Newswire•February 14, 2020
Funds are being raised from accredited U.S. investors with deep expertise in medical and 3D printing

REHOVOT, Israel, Feb. 14, 2020 /PRNewswire/ -- CollPlant (NASDAQ: CLGN) (the "Company"), a regenerative and aesthetic medicine company, announced it has entered into definitive agreements for up to $4.45 million. The capital raise is by way of a non-brokered private placement with U.S. accredited investors who have many years of deep experience in medical and 3D printing.

In connection with the offering, the Company will issue 445,000 American Depositary Shares (ADSs) of the Company at a price of $10.00 per ADS. The transaction does not include any warrants. The closing of the offering is expected to take place within seven business days, subject to the satisfaction of customary closing conditions.

"We are proud to welcome U.S. investors who have substantial knowledge of the primary activity areas of CollPlant and are in alignment with our corporate strategy," stated Yehiel Tal, the Chief Executive Officer of CollPlant. "We intend to use these funds to continue to develop groundbreaking treatment options for patients through our recombinant human collagen (rhCollagen) technology platform. We look forward to sharing additional company updates on our clinical development programs and strategic partnerships in future announcements."