CollPlant Biotechnologies Closes on $5.5 Million Financing
CollPlant Biotechnologies Ltd. - Ordinary Shares (CLGN)
US:NASDAQ Investor Relations:
collplant.com/investor-relation
Company Research
Source: PR Newswire
REHOVOT, Israel, Sept. 9, 2019 /PRNewswire/ -- CollPlant (NASDAQ:CLGN) (the "Company"), a regenerative medicine company, announced it has closed on a total of $5.5 million in convertible loans. A group of U.S. accredited investors with deep experience in the 3D printing industry purchased $3.5 million of the convertible loans, and the Company's largest shareholder, Ami Sagi, purchased $2.0 million of the convertible loans, through a non-brokered private placement. The convertible loans totaling $5.5 million automatically convert into the Company's American Depositary Shares (ADSs) at a conversion price of $4.00 per ADS following approval of the transaction by CollPlant's shareholders. Mr. Sagi and the U.S. investors will also receive three-year warrants to purchase up to an aggregate of 1,625,000 ADSs exercisable at an exercise price of $4.00 per ADS, subject to the satisfaction of certain closing conditions.An additional $1.0 million investment will be made by Ami Sagi following the
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