BioCardia Announces Closing of Upsized $7.2 Million Public Offering Priced At-The-Market Under Nasdaq Rules

SUNNYVALE, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- BioCardia, Inc. (NASDAQ:BCDA), a global leader in cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases, today announced the closing of its upsized public offering with participation from management and directors, institutional investors, and certain existing investors of the Company for the purchase and sale of 2,400,000 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 2,400,000 shares of common stock at a combined offering price of $3.00 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The company received aggregate gross proceeds of $7.2 million, before deducting placement agent fees and other offering expenses. The warrants have an exercise price of $3.00 per share, will be exercisable immediately and will expire five years from the issuance date.

The closing of the offering occurred on September 3, 2024. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, which include, but are not limited to, advancing our investigational biotherapeutic candidates and our biotherapeutic delivery partnering business.

The offering was ...