Lineage Cell Therapeutics Secures $14M in Direct Offering

Lineage Cell Therapeutics, Inc. (LCTX) has released an update to notify the public and investors about an entry into a material definitive agreement.

Lineage Cell Therapeutics, Inc. has struck a deal to sell over 13 million of its common shares in a registered direct offering at $1.04 each, aiming to raise $14 million. Key investors include board members Neal Bradsher and Don M. Bailey. Slated to close around February 8, 2024, the proceeds will bolster Lineage’s general corporate funds, covering clinical trials, R&D, and operational expenses. This move, consistent with SEC regulations, exemplifies strategic capital raising in the biotech sector, showcasing investor confidence and the company’s commitment to growth.

For further insights into LCTX stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.