Transaction Information
Hancock Jaffe Laboratories, Inc. (NASDAQ: HJLI) announced that it has successfully completed a public offering of its securities generating approximately $41.4 million of gross proceeds, prior to deducting underwriting discounts and commissions, and expenses. The company sold 5,914,284 shares of common stock at a public offering price of $7.00 per share, and warrants to purchase 2,971,142 common shares.
Proceeds from the offering will be used for general working capital purposes, including funding of the company's proposed U.S. pivotal trial for the VenoValve, a novel treatment for lower limb Chronic Venous Insufficiency (CVI) of the deep vein system.
The securities were offered pursuant to a registration statement on Form S-1, as amended (File No. 333- 251528), which was declared effective by the United States Securities and Exchange Commission ("SEC") on February 8, 2021 and a registration statement on Form S-1 (File No. 333-252874) filed pursuant to Rule 462(b) of the Securities Act of 1933, as amended, which became effective on February 8, 2021.
Ladenburg Thalmann & Co. Inc. acted as sole book-running manager in connection with the offering.
About Hancock Jaffe Laboratories
Hancock Jaffe Laboratories (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 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.