Celularity Inc. announced the closing of financing transactions with Philip A. Barach, co-founder of DoubleLine Capital LP, receiving $10 million in gross proceeds.
The financing includes a senior secured term loan and a secured convertible note to support ongoing operations and strategic initiatives.
The company issued warrants and secured convertible notes, demonstrating a strong financial position.
Financing Details
Received $10 million in gross proceeds with potential for an additional $2 million based on specified conditions.
Loan Structure
$7 million senior secured term loan with a first-priority lien on assets and up to $5 million in secured convertible notes.
Warrants Issued
Issued warrants to purchase 3,707,657 shares of Class A Common Stock with an exercise price of $2.00 per share.
Long-Term Support
Phil Barach's support strengthens Celularity's financial position, providing flexibility for future endeavors.
Strategic Focus
Emphasizing on leveraging placental-derived platform for addressing unmet medical needs, focusing on healthy aging and performance optimization.
- The closing enhances Celularity's financial position and flexibility for strategic planning and operations.
- The financing supports the company's focus on pioneering healthy aging solutions and participation in the longevity landscape.
Celularity's successful financing transactions and strong financial position pave the way for strategic growth and innovation in regenerative medicine, promising sustainable value for patients and shareholders.