CollPlant (CLGN) Prices 2M ADS Registered Direct Offering at $17.50/Sh

CollPlant Biotechnologies (NASDAQ: CLGN), today announced that it has entered into definitive agreements with several healthcare-focused and other institutional investors for the purchase and sale of 2,000,000 of the Company's American Depositary Shares (ADSs), at a purchase price of $17.50 per ADS, in a registered direct offering. Each ADS represents one (1) ordinary share, par value NIS 1.50 per share, of CollPlant. The offering is expected to close on or about February 17, 2021, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses payable by the Company, are expected to be $35.0 million. CollPlant intends to use the net proceeds for general corporate purposes, which may include but are not limited to working capital and funding the development of regenerative and aesthetic medicine products.

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