Full Press Release Details
Capricor Therapeutics Announces Closing
of Public Offerings Raising Approximately $10.0 Million in Net Proceeds
Underwriters' Over-Allotment
Option Fully Exercised
LOS ANGELES, September
21, 2016 - Capricor Therapeutics, Inc. (NASDAQ: CAPR) today announced the closing of its previously announced underwritten
registered public offering and concurrent registered direct offering. In the registered public offering, a total of 3,090,625 shares
of the Company's common stock were sold at an offering price of $3.20 per share. The shares include 403,125 shares of common
stock sold pursuant to the underwriters' over-allotment option, which option was exercised in full. In the registered direct offering,
a total of 312,500 shares of the Company's common stock were sold by Capricor directly to Cedars-Sinai Medical Center at
a price of $3.20 per share.
Roth Capital Partners
and National Securities Corporation, a wholly-owned subsidiary of National Holdings, Inc., (NASDAQ: NHLD) acted as joint book-running
managers for the registered public offering.
described above were offered by Capricor pursuant to a shelf registration statement on Form S-3 previously filed with, and subsequently
declared effective by, the Securities and Exchange Commission (the "SEC"). Final prospectus supplements related to
each of the offerings were filed with the SEC and are available, along with the accompanying prospectus, on the SEC's website
does not constitute an offer to sell or the solicitation of an offer to buy, 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.
Capricor Therapeutics,
Inc. (NASDAQ: CAPR) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of biological
therapies for the treatment of cardiac and other serious medical conditions. Capricor's lead candidate, CAP-1002, is a cardiac
cell therapy that is currently being evaluated for the treatment of heart disease associated with Duchenne muscular dystrophy
and myocardial infarction (heart attack). Capricor is advancing its proprietary exosome product candidate, CAP-2003, for the treatment
of ophthalmic disorders and is exploring other therapeutic areas. Capricor's portfolio also features Cenderitide, a dual natriuretic
peptide receptor agonist, which may have application for the outpatient treatment of advanced heart failure and other potential
Note Regarding Forward-Looking Statements
in this press release regarding the efficacy, safety, and intended utilization of Capricor's product candidates; the initiation,
conduct, size, timing and results of discovery efforts and clinical trials; the pace of enrollment of 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 recently completed offering and the anticipated effects of the offerings,
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, 2015, as filed with the Securities and Exchange Commission on March 30, 2016, 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 June 30, 2016, as filed with the Securities and Exchange Commission on August 15, 2016. 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.
Cenderitide are Investigational New Drugs and are not approved for any indications. Capricor's exosomes technology has not yet
been investigated in any clinical trial.
For more information,
Capricor Therapeutics,
President of Finance