Full Press Release Details
CORPORATION ANNOUNCES $15 MILLION REGISTERED DIRECT OFFERING
NJ / March 31, 2021 / Celsion Corporation (NASDAQ: CLSN) ("Celsion" or the "Company"), today announced
it has entered into definitive agreements with institutional investors for the purchase and sale of 11,538,462 shares of its common
stock at a purchase price of $1.30 per share in a registered direct offering, for gross proceeds of $15 million before deducting
placement agent fees and expenses. The closing of the offering is expected to occur on or about April 5, 2021, subject to the
satisfaction of customary closing conditions.
Global Partners is acting as sole placement agent for the offering.
Institutional Services LLC and Brookline Capital Markets, a division of Arcadia Securities, LLC, are acting as co-placement agents
offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254515) previously filed
with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. A prospectus
supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website
located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance
Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying
prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus
supplement and the accompanying prospectus, which provide more information about the Company and such offering.
press release shall 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.
is a fully integrated, clinical stage biotechnology company focused on advancing a portfolio of innovative cancer treatments,
including immunotherapies and DNA-based therapies; and a platform for the development of nucleic acid vaccines currently focused
on SARS-CoV2. The company's product pipeline includes GEN-1, a DNA-based immunotherapy for the localized treatment of ovarian
cancer. ThermoDox , a proprietary heat-activated liposomal encapsulation of doxorubicin, is under investigator-sponsored development
for several cancer indications. Celsion also has two feasibility stage platform technologies for the development of novel nucleic
acid-based immunotherapies and other anti-cancer DNA or RNA therapies. Both are novel synthetic, non-viral vectors with demonstrated
capability in nucleic acid cellular transfection. For more information on Celsion, visit www.celsion.com. (CLSN-FIN).
statements in this news release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without
limitation, statements relating to the offering and the use of proceeds therefrom, unforeseen changes in the course of research
and development activities and in clinical trials; the uncertainties of and difficulties in analyzing interim clinical data, particularly
in small subgroups that are not statistically significant; FDA and regulatory uncertainties and risks; the significant expense,
time and risk of failure of conducting clinical trials; the need for Celsion to evaluate its future development plans; possible
acquisitions or licenses of other technologies, assets or businesses; possible actions by customers, suppliers, competitors or
regulatory authorities; and other risks detailed from time to time in the Celsion's periodic filings with the Securities
and Exchange Commission. Celsion assumes no obligation to update or supplement forward-looking statements that become untrue because
of subsequent events, new information or otherwise.
Vice President and CFO