Transaction Information
Hancock Jaffe Laboratories, Inc. (NASDAQ: HJLI) announced it has entered into a definitive agreement with a fund managed by Perceptive Advisors to purchase $20 million of its common stock and pre-funded warrants in a registered direct offering priced at-the-market under Nasdaq rules. The offering consists of 2,540,650 shares of common stock and pre-funded warrants at a purchase price of $7.8720 per share. The gross proceeds are estimated to be $20 million before deducting the placement agent's fees and other estimated offering expenses.
The shares of common stock described above are being offered pursuant to a "shelf" registration statement on Form S-3 (File No. 333-237592) that was filed by the company with the Securities and Exchange Commission (SEC) and was declared effective on April 16, 2020. The company will file a prospectus supplement with the SEC relating to such shares of common stock.
Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent in connection with the offering.
About Hancock Jaffe Laboratories, Inc.
Hancock Jaffe Laboratories, Inc. (NASDAQ: HJLI) specializes in developing and manufacturing bioprosthetic (tissue based) medical devices to establish improved standards of care for treating cardiac and vascular diseases. HJLI currently has two lead product candidates: the VenoValve®, a porcine based valve which is intended to be surgically implanted in the deep venous system of the leg to treat reflux associated with Chronic Venous Insufficiency; and the CoreoGraft®, a bovine tissue based off the shelf conduit intended to be used for coronary artery bypass surgery. For more information, please visit www.hancockjaffe.com
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.