Celsion Corporation Announces $15 Million At-The-Market Registered Direct Offering

  Celsion Corporation Announces $15 Million At-The-Market Registered Direct
                                   Offering

PR Newswire

LAWRENCEVILLE, N.J., Jan. 15, 2014

LAWRENCEVILLE, N.J., Jan.15, 2014 /PRNewswire/ --Celsion Corporation (the
"Company") (NASDAQ:CLSN) today announced that it has received commitments from
institutional investors to purchase an aggregate of approximately $15 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 3,603,603 shares
of its common stock at a per share price of $4.1625. Additionally, for each
share of common stock purchased, investors will receive a Series A Warrant to
purchase one-quarter of a share of our common stock at an exercise price of
$4.10 per share, which shall be exercisable immediately and expire five years
from the date of issuance, and a Series B Warrant to purchase one-quarter of a
share of our common stock at an exercise price of $4.10 per share, which shall
be exercisable immediately and expire one year from the date of issuance. The
closing of the offering is expected to take place on or about January 21,
2014, subject to the satisfaction of customary closing conditions.

The estimated net proceeds to the Company from the offering are expected to be
approximately $13.8 million. With the net proceeds from this offering, the
Company projects to have an unaudited cash and investment balance of
approximately $57 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:
Chief Financial Officer.

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," "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 – Chief Financial Officer &
Corporate Secretary
609-482-2455
jchurch@celsion.com

SOURCE Celsion Corporation

Website: http://www.celsion.com
 
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