Hancock Jaffe Laboratories’ $5.1 Million Offering Of Stock And Warrants

Sheppard Mullin advised Ladenburg Thalmann & Co Inc. as placement agent on the deal.

Hancock Jaffe Laboratories, Inc. (NASDAQ:HJLI), a developer of medical devices that restore cardiac and vascular health, ìannounced the pricing of a registered direct offering of $5.1 million of its common stock and warrants to purchase shares of common stock in a concurrent private placement. The combined purchase price for one share of common stock and one warrant to purchase one share of common stock will be $0.535 which is priced at-the-market under Nasdaq rules.

Ladenburg Thalmann & Co. Inc. is acting as exclusive placement agent in connection with the offering.

The gross proceeds to the Company from the registered direct offering and concurrent private placement are expected to be approximately $5.1 million before deducting the placement agents’ fees and other estimated offering expenses. The Company intends to use the net proceeds for the offering for the continued development of the Company’s two lead products, VenoValve and the CoreoGraft, and for general corporate purposes, including working capital.

Hancock Jaffe Laboratories, Inc. specializes in developing and manufacturing bioprosthetic (tissue based) medical devices to establish improved standards of care for treating cardiac and vascular diseases.

The Sheppard Mullin team was led by Richard Friedman (Picture) and associate Justin Anslow.

Involved fees earner: Justin Anslow – Sheppard Mullin; Richard Friedman – Sheppard Mullin;

Law Firms: Sheppard Mullin;

Clients: Ladenburg Thalmann & Co.;

Author: Ambrogio Visconti