Exton-based Fibrocell Announces $6.0 Million Registered Direct Offering Priced At-the-Market

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EXTON, PA — Fibrocell Science, Inc.Fibrocell Science, Inc. (NASDAQ: FCSC), a gene therapy company focused on transformational autologous cell-based therapies for skin and connective tissue diseases, today announced that it has entered into definitive agreements with several institutional investors for the purchase of 2,038,224 shares of its common stock, at a purchase price per share of $2.85, for gross proceeds of approximately $5.8 million, in a registered direct offering priced at-the-market.

Additionally, Fibrocell has also agreed to issue to the investors unregistered warrants to purchase up to 1,528,668 shares of common stock, at a purchase price per warrant of $0.125, for gross proceeds of approximately $0.2 million. The closing of the offering is expected to take place on or about May 31, 2018, subject to the satisfaction of customary closing conditions.

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

The warrants have an exercise price of $2.86 per share of common stock, will be exercisable immediately and will expire five and one-half years from the issuance date.

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The gross proceeds to Fibrocell, before deducting placement agent fees and other offering expenses, are expected to be approximately $6.0 million. Fibrocell intends to use the net proceeds from this offering for the continued clinical and pre-clinical development of its product candidates, FCX-007 and FCX-013, and for other general corporate purposes.

The shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being offered by Fibrocell pursuant to a “shelf” registration statement on Form S-3 that was filed and declared effective by the Securities and Exchange Commission (“SEC”) on February 9, 2016 and the base prospectus contained therein (File No. 333-209077). The offering of the shares of common stock will be made only by means of a prospectus supplement and accompanying base prospectus that form a part of the registration statement.

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A prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered will be filed with the SEC.  Copies of the prospectus supplement and accompanying base prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected].

The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock 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 of the Act and such applicable state securities laws.

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This article 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Source: Fibrocell Science Inc, 405 Eagleview Blvd, Exton PA 19341

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