Biocardia announces $3.6 million private placement of common stock

Sunnyvale, calif., dec. 15, 2022 (globe newswire) -- biocardia, inc. [nasdaq: bcda] (the “company”), a developer of cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases, today announced that it has entered into a securities purchase and registration rights agreement (the “purchase agreement”) relating to a private placement with certain new and existing qualified institutional buyers, institutional accredited investors and certain directors and officers of the company (the "investors"). pursuant to the purchase agreement, the company agreed to sell to the investors an aggregate 2,122,017 shares of the company's common stock at an offering price of $1.68 per share, the average of the closing share prices for the preceding five trading days.
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