Celsion Corporation Announces $9.83 Million Registered Direct Offering

    Celsion Corporation Announces $9.83 Million Registered Direct Offering

PR Newswire

LAWRENCEVILLE, N.J., May 31, 2013

LAWRENCEVILLE, N.J., May 31, 2013 /PRNewswire/ --Celsion Corporation
(NASDAQ:CLSN) (the "Company") today announced that it has received commitments
from institutional investors to purchase an aggregate of approximately $9.83
million of the Company's common stock in an at-the-market registered direct
offering led by a dedicated health care fund.

The Company entered into definitive purchase agreements with these investors
pursuant to which the Company agreed to sell an aggregate of 6,264,492 shares
of its common stock at a per share price of $1.57. The shares were priced
at-the-market with no discount to the previous day's closing bid price. In
addition, there were no warrants issued as part of this financing
transaction. The closing of the offering is expected to take place on or
about June 4, 2013, subject to the satisfaction of customary closing
conditions.

The estimated net proceeds to the Company from the offering are expected to be
approximately $9.1 million. With the net proceeds from this offering, the
Company projects to have an unaudited cash and investment balance of
approximately $50 million. The Company intends to use the net proceeds from
this offering for general corporate purposes.

H.C. Wainwright & Co., LLC acted as exclusive placement agent in connection
with the offering.

A shelf registration statement (File No. 333-183286) relating to the shares
issued in the offering has been filed with and declared effective by the
Securities and Exchange Commission (the "SEC"). A prospectus supplement
relating to the offering will be filed by the Company with the SEC. Copies of
the prospectus supplement, together with the accompanying prospectus, can be
obtained at the SEC's website at http://www.sec.gov, from request at H.C.
Wainwright & Co., LLC by e-mailing placements@hcwco.com, or from Celsion
Corporation, 997 Lenox Drive, Suite 100, Lawrenceville, NJ 08648, Attention:
Investor Relations.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any securities of the Company in this offering. There shall
not be any offer, solicitation of an offer to buy, or sale of securities in
any state or jurisdiction in which such an offering, solicitation, or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. Any offering will be made only by
means of a prospectus, including a prospectus supplement, forming a part of
the effective registration statement.

Additional Information:

Statements made in this press release include forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, regarding,
but not limited to, the amount and use of proceeds the Company expects to
receive from the offering and the closing of the offering. Forward-looking
statements can be identified by the use of words such as "may," "will,"
"plan," "should," "expect," "project," "anticipate," "estimate," "continue,"
or comparable terminology. Such forward-looking statements are inherently
subject to certain risks, trends and uncertainties, many of which the Company
cannot predict with accuracy and some of which the Company might not even
anticipate, and involve factors that may cause actual results to differ
materially from those projected or suggested. Readers are cautioned not to
place undue reliance on these forward-looking statements and are advised to
consider the factors listed above together with the additional factors under
the heading "Forward-Looking Statements" and "Risk Factors" in the Company's
Annual Reports on Form 10-K, as may be supplemented or amended by the
Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue because of
subsequent events, new information or otherwise.

Investor Contact
Jeffrey W. Church
Senior Vice President – Corporate
Strategy and Investor Relations
609-482-2455
jchurch@celsion.com

SOURCE Celsion Corporation

Website: http://www.celsion.com
 
Press spacebar to pause and continue. Press esc to stop.