Full Press Release Details
Capricor Therapeutics
Announces $4 Million Registered Direct Offering
March 15, 2016 - Capricor Therapeutics, Inc. (NASDAQ: CAPR), a biotechnology company
focused on the discovery, development and commercialization of first-in-class therapeutics, today announced that it has entered
into a Subscription Agreement with certain investors for the purchase and sale of 1,692,151 shares of common stock at a price
of $2.40 per share and warrants to purchase up to 846,073 shares of common stock with an exercise price of $4.50 per share. The
warrants will be exercisable six months and one day from the date of the closing of the offering and have a term of three years.
The gross proceeds of the offering are expected to be approximately $4.1 million, before deduction of placement agent fees and
offering expenses payable by Capricor. The closing of the offering is expected to take place on or about March 15, 2016,
subject to the satisfaction of customary closing conditions.
The offering includes
participation from new and existing investors as well as certain officers and directors of Capricor. The net proceeds of the offering
will be used primarily for working capital, including ongoing or planned clinical trials, and general corporate purposes.
acted as placement agent in connection with the offering. Roth Capital Partners acted as financial advisor.
common stock described above were offered pursuant to a shelf registration statement (File No. 333-207149), which was declared
effective by the United States Securities and Exchange Commission ("SEC") on October 26, 2015. The warrants and shares
issuable upon exercise of the warrants were offered in a concurrent private placement and have not been registered under the Securities
Act of 1933, as amended. Capricor has agreed to file one or more registration statements with the SEC covering the resale of the
shares of common stock issuable upon exercise of the warrants.
shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state or jurisdiction. When filed with the SEC, copies
of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC's website
About Capricor Therapeutics
Capricor Therapeutics, Inc. (NASDAQ: CAPR)
is a clinical-stage biotechnology company focused on the discovery, development and commercialization of first-in-class therapeutics.
Capricor's lead programs target post myocardial infarction (heart attack), heart failure and Duchenne muscular dystrophy.
Capricor has two lead product candidates under investigation: CAP-1002, a cardiac cell therapy, and Cenderitide, a natriuretic
peptide receptor agonist. CAP-1002 is in development for the treatment of post myocardial infarction, advanced heart failure and
Duchenne muscular dystrophy-associated cardiomyopathy. Cenderitide is in development for the outpatient treatment of heart failure
as well as potential other indications. In addition, Capricor is conducting research and development on its exosomes platform
technology for cardiac diseases and other potential indications. For additional information, visit www.capricor.com.
Cautionary Note Regarding Forward-Looking
Statements in this press release regarding
the efficacy, safety, and intended utilization of Capricor's product candidates; the conduct, size, timing and results of discovery
efforts and clinical trials; plans regarding regulatory filings, future research and clinical trials; plans regarding current and
future collaborative activities and the ownership of commercial rights; scope, duration, validity and enforceability of intellectual
property rights; future royalty streams, expectations with respect to the expected use of proceeds from the offering and the anticipated
effects of the offering, and any other statements about Capricor's management team's future expectations, beliefs, goals,
plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. Any statements that are not statements of historical fact (including statements containing the words "believes,"
"plans," "could," "anticipates," "expects," "estimates," "should,"
"target," "will," "would" and similar expressions) should also be considered to be forward-looking
statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated
by such forward-looking statements. More information about these and other risks that may impact Capricor's business are set forth
in Capricor's Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the Securities and Exchange Commission
on March 16, 2015, in its Registration Statement on Form S-3, as filed with the Securities and Exchange Commission on September
28, 2015, and in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, as filed with the Securities
and Exchange Commission on November 13, 2015. All forward-looking statements in this press release are based on information
available to Capricor as of the date hereof, and Capricor assumes no obligation to update these forward-looking statements.
For more information, please contact:
Capricor Therapeutics, Inc.
AJ Bergmann, Vice President of Finance