Celcuity (CELC) Prices 2.25M Share Offering at $25/sh

Celcuity Inc. (NASDAQ: CELC) today announced the pricing of its underwritten public offering of 2,250,000 shares of its common stock at a price to the public of $25.00 per share. As part of the offering, Celcuity has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on July 1, 2021, subject to customary closing conditions.

Gross proceeds to Celcuity from the offering are expected to be approximately $56.25 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Celcuity intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include capital expenditures, research and development expenditures, clinical trial expenditures, expansion of business development activities and other general corporate purposes.

Jefferies and Cowen are acting as joint bookrunning managers for this offering. Canaccord Genuity is acting as the lead manager, Needham & Company is acting as the senior co-manager, and Craig-Hallum is acting as co-manager.

The shares are being offered by Celcuity pursuant to a registration statement on Form S-3 previously filed with and declared effective by the U.S. Securities and Exchange Commission. The offering is being made only by means of a prospectus. A preliminary prospectus supplement and accompanying prospectus related to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, from the following: Jefferies LLC, Attention: Equity Syndicate Prospectus Departments, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at (877) 821-7388; or by email at[email protected]; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, email [email protected], telephone: 833-297-2926.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, or any solicitation of an offer to buy, 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

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