Vericel Announces Closing of $74.8 Million Public Offering

Vericel (Nasdaq:VCEL), a leader in advanced cell therapies for the sports medicine and severe burn care markets, today announced the closing of its previously announced underwritten public offering of 5,750,000 shares of its common stock, including 750,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a price to the public of $13.00 per share.  The gross proceeds to Vericel from this offering are expected to be approximately $74.8 million.

As quoted in the press release:

Vericel anticipates using the proceeds from the offering for general corporate purposes as well as to expand Vericel’s business by in-licensing or acquiring, as the case may be, product candidates, technologies, other assets, commercial products or businesses which would be complementary to Vericel’s existing commercial franchises or its advanced cell therapy platform; however, Vericel has no current commitments or obligations to do so.

The securities described above were offered by Vericel pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed with the Securities Exchange Commission (SEC) on June 29, 2015 and declared effective by the SEC on July 15, 2015.  The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement.

Click here to read the full press release.