Comera Life Sciences Announces $4.1 Million Private Placement
01 August 2023 - 10:00PM
Comera Life Sciences Holdings, Inc. (Nasdaq: CMRA), a life sciences
company developing a new generation of biologic medicines to
improve patient access, safety, and convenience, today announced
that it has executed a definitive agreement to complete a $4.1
million private placement of shares of its common stock, and
accompanying warrants to purchase shares of its common stock, to
existing stockholders at a purchase price of $0.51125 per share.
The shares are accompanied by five-year warrants to purchase shares
of common stock at an exercise price of $0.6135 per share,
beginning six months and one day after issuance. On July 31, 2023,
Comera sold and issued a total of 4,399,016 shares of its common
stock and warrants to purchase an aggregate of 10,997,550 shares of
its common stock in a first closing, resulting in gross proceeds of
$2.25 million to Comera. Comera expects to sell and issue an
additional 3,561,851 shares of its common stock and warrants to
purchase an aggregate of 8,904,641 shares of its common stock in a
second closing, resulting in additional gross proceeds of $1.82
million, conditioned upon receipt of stockholder approval under the
applicable Nasdaq listing standards. Warrants issued in connection
with the second closing will be immediately exercisable. Proceeds
from the private placement are expected to be used for working
capital and general corporate purposes.
“We appreciate the continued support and
confidence of existing investors. This infusion of capital will
support our efforts to leverage our SQore™ platform to transform
the delivery of biologics from intravenous to subcutaneous form and
achieve our mission of improving patient quality of life by
offering treatments that support greater independence,” said
Jeffrey Hackman, Chairman and Chief Executive Officer of
Comera.
The securities sold in the private placement,
including the shares of common stock underlying the warrants, are
being sold in a transaction not involving a public offering, have
not been registered under the Securities Act of 1933, as amended,
and may not be offered or sold in the United States except pursuant
to an effective registration statement or an applicable exemption
from the registration requirements. Concurrently with the closing,
Comera and the investors entered into a registration rights
agreement pursuant to which the Company has agreed to file a
registration statement with the Securities and Exchange Commission
registering the resale of the securities sold in the private
placement.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Comera Life Sciences
Leading a compassionate new era in medicine,
Comera Life Sciences is applying a deep knowledge of formulation
science and technology to transform essential biologic medicines
from intravenous (IV) to subcutaneous (SQ) forms. The goal of this
approach is to provide patients with the freedom of self-injectable
care, reduce institutional dependency and to put patients at the
center of their treatment regimen.
To learn more about the Comera Life Sciences
mission, as well as the proprietary SQore™ platform, visit
https://comeralifesciences.com/.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of the federal securities laws.
These forward-looking statements generally are identified by the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
(including statements related to the second closing of the private
placement and the expected use of proceeds from the private
placement) that are based on current expectations and assumptions
and, as a result, are subject to risks and uncertainties. Many
factors could cause actual future events to differ materially from
the forward-looking statements in this document, including, but not
limited to: the Company’s ability to maintain the listing of its
securities on the Nasdaq Capital Market; the Company’s ability to
obtain stockholder approval for the second closing of the private
placement; the price of the Company’s securities may be volatile
due to a variety of factors, including changes in the competitive
and highly regulated industries in which the Company plans to
operate, variations in performance across competitors, changes in
laws and regulations affecting the Company’s business and changes
in the capital structure; the Company’s ability to execute on its
business plans, forecasts, and other expectations and identify and
realize additional opportunities; the risk of economic downturns
and the possibility of rapid change in the highly competitive
industry in which the Company operates; the risk that the Company
and its current and future collaborators are unable to successfully
develop and commercialize the Company’s products or services, or
experience significant delays in doing so; the risk that we will be
unable to continue to attract and retain third-party collaborators,
including collaboration partners and licensors; the risk that the
Company may never achieve or sustain profitability; the risk that
the Company will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; the risk that the Company experiences difficulties in managing
its growth and expanding operations; the risk that third-party
suppliers and manufacturers are not able to fully and timely meet
their obligations; the risk that the Company is unable to secure or
protect its intellectual property; the risk that the Company is
unable to secure regulatory approval for its product candidates;
the effect of any resurgence of the COVID-19 pandemic or other
public health emergencies on the Company’s business; general
economic conditions; and other risks and uncertainties described in
Item 1A of Part I of the Company’s Annual Report on Form 10-K filed
with the Securities and Exchange Commission (SEC) on March 17, 2023
under “Risk Factors” and in other filings that have been made or
will be made with the SEC. The foregoing list of factors is not
exhaustive. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Comera assumes no obligation and
does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise. Comera can give no assurance that it will achieve its
expectations.
Contacts
Comera Investor
John Woolford ICR Westwicke John.Woolford@westwicke.com
Comera Press
Jon Yu ICR WestwickeComeraPR@westwicke.com
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