CollPlant announces $3.7 million private placement

CollPlant Biotechnologies has announced a private placement expected to raise $3.7 million, according to a press release. The transaction involves the issuance of 989,301 ordinary shares and warrants to purchase up to 1,483,952 shares at a price of $3.74 per share. The private placement is led by H.C. Wainwright & Co. and Rodman & Renshaw LLC as exclusive joint placement agents.

The funds will be used to accelerate research and development at CollPlant's subsidiary, LightSolver, focusing on laser-based supercomputing architecture and Laser Processing Unit technology, as well as for general corporate purposes. The securities are being offered under an exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, with a filing expected with the U.S. Securities and Exchange Commission.

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