Full Press Release Details
Announces Partial Exercise of Over-Allotment Option in Initial Public Offering
MIAMI, FLORIDA - March 15, 2021
-- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or the "Company"), a clinical stage biotechnology company
developing cellular therapies for chronic aging-related and life-threatening conditions, today announced that the underwriters
of its previously completed initial public offering of Class A common stock have partially exercised their over-allotment option
to purchase an additional 250,000 shares. The thirty-day over-allotment option was granted in connection with the Company's
initial public offering of 2,660,000 shares of Class A common stock at a public offering price of $10.00. After giving effect to
the partial exercise of the over-allotment option, the total number of shares sold by Longeveron in the offering increased to 2,910,000
shares, resulting in aggregate gross proceeds of $29,100,000 prior to deducting underwriting discounts, commissions, and other
Kingswood Capital Markets, division of
Benchmark Investments, Inc., acted as sole book-runner for the offering. Alexander Capital L.P. acted as co-manager.
Buchanan Ingersoll & Rooney PC acted
as counsel to the Company. Nelson Mullins Riley & Scarborough LLP acted as counsel to the underwriters.
The Securities and Exchange Commission
("SEC") declared effective a registration statement on Form S-1 relating to these securities on February 11, 2021. A
final prospectus relating to this offering was filed with the SEC. Copies of the final prospectus relating to this offering can
be obtained at the SEC's website at www.sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery
Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at syndicate@kingswoodcm.com or telephone at
This press release 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.
About Longeveron Inc.
Longeveron is a clinical stage biotechnology
company developing cellular therapies for specific aging-related and life-threatening conditions. The Company's lead investigational
product is the LOMECEL-B cell-based therapy product ("Lomecel-B"), which is derived from culture-expanded medicinal
signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the
same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies
for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently
sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic
Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). The Company's mission is
to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory
approvals, subsequent commercialization and broad use by the healthcare community. Additional information about the Company is
available at www.longeveron.com.
Forward-Looking Statements
Certain statements in this press release
that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates
of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially
from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking
terminology such as "believe," "expects," "may," "looks to," "will," "should,"
"plan," "intend," "on condition," "target," "see," "potential," "estimates,"
"preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy
or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are
not limited to, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates,
and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of
the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of
our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability
to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability
to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company's
results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained
in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other
than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events,
Crescendo Communications, LLC
Email: lgvn@crescendo-ir.com