Comera Life Sciences Announces the Completion of $4.1 Million Private Placement
September 12 2023 - 7:00AM
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 completed its previously announced $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. 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. On September 11, 2023, following receipt
of stockholder approval on August 31, 2023, Comera sold and issued
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. Warrants issued in connection with the initial closing are
exercisable beginning six months and one day after issuance and
warrants issued in connection with the second closing are
immediately exercisable. Proceeds from the private placement are
expected to be used for working capital and general corporate
purposes.
The securities sold in the private placement,
including the shares of common stock underlying the warrants, were
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 initial
closing, Comera and the investors entered into a registration
rights agreement pursuant to which the Company has filed 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 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
Comera Life Sciences (NASDAQ:CMRA)
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