Longeveron Inc.
Filed Aug 4, 2025.
View on SEC.govAbout this filing
A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Aug 4, 2025
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As filed with the Securities and Exchange Commission on August 4, 2025
Registration No. 333-
**UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
**FORMS-1
REGISTRATION STATEMENT
*UNDER
THE SECURITIES ACT OF 1933*
**Longeveron Inc.
**(Exact name of registrant as specified in its charter)
| Delaware | 2834 | 47-2174146 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification No.) |
**1951 NW 7 th Avenue, Suite 520
Miami, Florida 33136
Telephone: (305) 909-0840
**(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
**Wa’el Hashad
Chief Executive Officer
Longeveron Inc.
1951 NW 7 th Avenue, Suite 520
Miami, Florida 33136
Telephone: (305) 909-0840
**(Name, address, including zip code, and telephone number, including area code, of agent for service)
With copies to:
| Jennifer Minter, Esq. Adam G. Wicks, Esq. Buchanan Ingersoll & Rooney PC Union Trust Building 501 Grant Street, Suite 200 Pittsburgh, PA 15219 Telephone: (412) 562-8800 | Rick A. Werner, Esq. Jayun Koo, Esq. Haynes and Boone, LLP 30 Rockefeller Plaza, 26th Floor New York, New York 10022 (212) 659-7300 |
|---|
**Approximate date of commencement of proposed sale to the public:
**As soon as practicable after this Registration Statement is declared effective.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box.☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.
The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
Preliminary Prospectus Subject to Completion, Dated August 4, 2025
Longeveron Inc.
**Up to 3,846,154 Shares of Class A common stock
Up to 3,846,154 Series A Class A Common Warrants
to Purchase up to 3,846,154 Shares of Class A common stock
**Up to 3,846,154 Series B Class A Common Warrants
to Purchase up to 3,846,154 Shares of Class A common stock
Up to 3,846,154 Pre-Funded Warrants
to Purchase up to 3,846,154 Shares of Class A common stock
Up to 269,231 Placement Agent Warrants
to Purchase up to 269,231 Shares of Class A common stock
Up to 11,807,693 Shares of Class A common stock Underlying the Series A Common Warrants, Series B Common Warrants, Pre- Funded Warrants** and Placement Agent Warrants
We are offering up to 3,846,154 shares of our Class A Common Stock (the “Class A common stock”) together with up to 3,846,154 Series A Class A common warrants to purchase up to 3,846,154 shares of Class A common stock (the “Series A common warrants”) and up to 3,846,154 Series B Class A common warrants to purchase up to 3,846,154 shares of Class A common stock (the “Series B common warrants” and, together with the Series A common warrants, the “Class A common warrants”). Each share of our Class A common stock, or a pre-funded warrant in lieu thereof, is being sold together with a Series A common warrant to purchase one share of our Class A common stock and a Series B common warrant to purchase one share of our Class A common stock. The shares of Class A common stock, Series A common warrant and Series B common warrant are immediately separable and will be issued separately in this offering but must be purchased together in this offering. The assumed combined public offering price for each share of Class A common stock and accompanying Class A common warrants is $1.56, which is equal to the closing price of our Class A common stock on the Nasdaq Capital Market on July 29, 2025. Each Class A common warrant will have an exercise price per share of $ , will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Class A common warrants (the “Warrant Stockholder Approval”), provided however, if the Pricing Conditions (as defined below) are met, the Warrant Stockholder Approval will not be required and the Class A common warrants will be exercisable upon issuance. The Series A common warrants will expire ( ) years from the date of issuance or the effective date of the Warrant Stockholder Approval, as applicable, and the Series B common warrants will expire ( ) months from the date of issuance or the effective date of the Warrant Stockholder Approval, as applicable. As used herein, the “Pricing Conditions” means that the combined public offering price per share and accompanying Class A common warrants is such that the Warrant Stockholder Approval is not required under the rules of The Nasdaq Stock Market LLC (“Nasdaq”) because either (i) the offering is an at-the-market offering under Nasdaq rules and such price equals or exceeds the sum of (a) the applicable “Minimum Price” per share as defined under Nasdaq Rule 5635(d) plus (b) $0.125 per whole share of Class A common stock underlying each of the Series A common warrants and Series B common warrants or (ii) the offering is a discounted offering where the pricing and discount (including attributing a value of $0.125 per whole share of Class A common stock underlying each of the Series A common warrants and Series B common warrants) meet the pricing requirements under Nasdaq’s rules.
We are also offering to each purchaser whose purchase of shares of our Class A common stock in this offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the holder, 9.99%) of our outstanding shares of Class A common stock immediately following consummation of this offering, the opportunity to purchase, if the purchaser so chooses, pre-funded warrants (the “pre-funded warrants”) to purchase shares of Class A common stock, or the pre-funded warrants, in lieu of shares of Class A common stock. Each pre-funded warrant will be exercisable for one share of our Class A common stock. The purchase price of each pre-funded warrant and accompanying Class A common warrants will equal the price per share of Class A common stock and accompanying Class A common warrants being sold to the public in this offering, minus $0.001, and the exercise price of each pre-funded warrant will be $0.001 per share. For each pre-funded warrant that we sell, the number of shares of our Class A common stock that we are offering will be decreased on a one-for-one basis. This offering also relates to the shares of Class A common stock issuable upon exercise of the Class A common warrants and the pre-funded warrants.
This offering will terminate on August 29, 2025, unless we decide to terminate the offering (which we may do at any time in our discretion) prior to that date. We will have one closing for all the securities purchased in this offering. The combined public offering price per share (or pre-funded warrant) and Class A common warrants will be fixed for the duration of this offering.
Our Class A common stock is listed on the Nasdaq Capital Market under the symbol “LGVN.” Our Class B Common Stock (“Class B common stock”) is not registered. The last reported sale price of our Class A common stock on the Nasdaq Capital Market on July 29, 2025, was $1.56 per share. All share, Class A common warrants and pre-funded warrant numbers are based on an assumed combined public offering price of $1.56 per share and the accompanying Class A common warrants and $1.559 per pre-funded warrant and the accompanying Class A common warrants, based on the Company’s closing price of the Class A common stock on July 29, 2025 as reported on the Nasdaq Capital Market. The actual combined public offering price per share of Class A common stock and accompanying Class A common warrants, and per pre-funded warrant and accompanying Class A common warrants, will be determined between us and investors based on market conditions at the time of pricing, and may be at a discount to the then current market price of our Class A common stock. The recent market price used throughout this prospectus may not be indicative of the actual combined public offering price. The actual combined public offering price may be based upon a number of factors, including our history and our prospects, the industry in which we operate, our past and present operating results, the previous experience of our executive officers and the general condition of the securities markets at the time of this offering. There is no established public trading market for the Series A common warrants, Series B common warrants or pre-funded warrants, and we do not expect a market for the Series A common warrants, Series B common warrants or the pre-funded warrants to develop. We do not intend to list the Series A common warrants, Series B common warrants or pre-funded warrants on the Nasdaq Capital Market, any other national securities exchange or any other trading system. Without an active trading market, the liquidity of the Series A common warrants, Series B common warrants and the pre-funded warrants will be limited.
We have engaged H.C. Wainwright & Co., LLC (the “placement agent”), to act as our exclusive placement agent in connection with this offering. The placement agent has agreed to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The placement agent is not purchasing or selling any of the securities we are offering, and the placement agent is not required to arrange the purchase or sale of any specific number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees set forth in the table below, which assumes that we sell all of the securities offered by this prospectus. Since we will deliver the securities to be issued in this offering upon our receipt of investor funds, there is no arrangement for funds to be received in escrow, trust or similar arrangement. There is no minimum offering requirement as a condition of closing of this offering. Because there is no minimum offering amount required as a condition to closing this offering, we may sell fewer than all of the securities offered hereby, which may significantly reduce the amount of proceeds received by us. Investors in this offering will not receive a refund in the event that we do not sell an amount of securities sufficient to pursue our business goals described in this prospectus. In addition, because there is no escrow account and no minimum offering amount, investors could be in a position where they have invested in our company, but we are unable to fulfill all of our contemplated objectives due to a lack of interest in this offering. We will bear all costs associated with the offering. See “Plan of Distribution” on page 32 of this prospectus for more information regarding these arrangements.
We are an “emerging growth company” under the federal securities laws and, as such, we have elected to comply with certain reduced public company reporting requirements for this prospectus and future filings. See “Prospectus Summary - Implication of Being an Emerging Growth Company and a Smaller Reporting Company.”
| Per Share and Class A Common Warrants | Per Pre-Funded Warrant and Class A Common Warrants | Total | |||
| Public Offering price | $ | $ | $ | ||
|---|---|---|---|---|---|
| Placement Agent fees and expenses(1) | $ | $ | $ | ||
| Proceeds to us, before expenses(2) | $ | $ | $ |
| (1) | We have agreed to pay the placement agent a cash fee equal to 7.0% of the gross proceeds raised in this offering. We have also agreed to reimburse the placement agent for certain of its offering related expenses, including a management fee of 1.0% of the aggregate gross proceeds raised in the offering, reimbursement for non-accountable expenses in an amount of $10,000 and legal fees and other out of pocket expenses in the amount of $100,000. In addition, we have agreed to issue to the placement agent or its designees as compensation in connection with this offering warrants (the “Placement Agent Warrants”) to purchase a number of shares of Class A common stock equal to 7.0% of the shares of Class A common stock sold in this offering (including the shares of Class A common stock issuable upon exercise of the pre-funded warrants), at an exercise price of $ per share. See “Plan of Distribution” on page 32 of this prospectus for a description of the fees and expenses to be paid to the placement agent for services performed in connection with the offering. |
| (2) | Because there is no minimum number of securities or amount of proceeds required as a condition to closing in this offering, the actual public offering amount, placement agent fees, and proceeds to us, if any, are not presently determinable and may be substantially less than the total maximum offering amounts set forth above. The amount of the offering proceeds to us presented in this table does not give effect to the exercise, if any, of the pre-funded warrants or the Class A common warrants. |
Investing in our securities involves a high degree of risk. See “Risk Factors” beginning on page 13 of this prospectus, as well as the risk factors and other information in any documents we incorporate by reference into this prospectus, to read about important factors you should consider.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.
The delivery to purchasers of the shares of Class A common stock, pre-funded warrants and Class A common warrants in this offering is expected to be made on or about , 2025, subject to satisfaction of certain customary closing conditions.
H.C. Wainwright & Co.
The date of this prospectus is , 2025
TABLE OF CONTENTS
| Page | |
|---|---|
| PROSPECTUS SUMMARY | 1 |
| THE OFFERING | 9 |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | 12 |
| RISK FACTORS | 13 |
| USE OF PROCEEDS | 23 |
| DIVIDEND POLICY | 24 |
| DILUTION | 24 |
| DESCRIPTION OF SECURITIES WE ARE OFFERING | 27 |
| PLAN OF DISTRIBUTION | 32 |
| LEGAL MATTERS | 35 |
| WHERE YOU CAN FIND MORE INFORMATION | 35 |
| INCORPORATION OF CERTAIN INFORMATION BY REFERENCE | 36 |
| SIGNATURES | II-8 |
Neither we nor the placement agent have authorized anyone to provide you with information other than that contained in this prospectus, or any free writing prospectus prepared by or on our behalf or to which we have referred you. We and the placement agent take no responsibility for and can provide no assurance as to the reliability of, any other information that others may give you. We and the placement agent are offering to sell, and seeking offers to buy, securities only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date on the front cover page of this prospectus, or other earlier date stated in this prospectus, regardless of the time of delivery of this prospectus or of any sale of our securities. Our business, financial condition, results of operations and future prospects may have changed since that date.
No action is being taken in any jurisdiction outside the United States to permit a public offering of our securities or possession or distribution of this prospectus in that jurisdiction. Persons who come into possession of this prospectus in jurisdictions outside the United States are required to inform themselves about and to observe any restrictions as to this offering and the distribution of this prospectus applicable to that jurisdiction.
We and the placement agent are offering to sell, and seeking offers to buy, our securities only in jurisdictions where offers and sales are permitted. Neither we nor the placement agent have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of our shares of Class A common stock, Class A common warrants and pre-funded warrants and the distribution of this prospectus outside of the United States.
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About This Prospectus
This prospectus is part of a registration statement that we have filed with the Securities and Exchange Commission. You should rely only on the information contained in this prospectus or any related prospectus supplement. We have not authorized anyone to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. The information contained in this prospectus is accurate only on the date of this prospectus. Our business, financial condition, results of operations and prospects may have changed since such date. Other than as required under the federal securities laws, we undertake no obligation to publicly update or revise such information, whether as a result of new information, future events or any other reason. This prospectus contains summaries of certain provisions contained in some of the documents described herein, but reference is made to the actual documents for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of some of the documents referred to herein have been filed, will be filed or will be incorporated by reference as exhibits to the registration statement of which this prospectus is a part, and you may obtain copies of those documents as described below. You should read this prospectus in its entirety before making an investment decision. You should also read and consider the information in the documents to which we have referred you in the section of the prospectus entitled “Where You Can Find More Information.”
This prospectus does not constitute an offer to sell or the solicitation of an offer to buy any of our securities other than the securities covered hereby, nor does this prospectus constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. Persons who come into possession of this prospectus in jurisdictions outside the United States are required to inform themselves about, and to observe, any restrictions as to the offering and the distribution of this prospectus applicable to those jurisdictions.
Industry and Market Data
This prospectus includes industry data and forecasts that we obtained from industry publications and surveys, public filings and internal company sources. Industry publications and surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of the included information. Statements as to our market position and market estimates are based on independent industry publications, government publications, third party forecasts, management’s estimates and assumptions about our markets and our internal research. While we are not aware of any misstatements regarding the market, industry or similar data presented herein, such data involve risks and uncertainties and are subject to change based on various factors, including those discussed under the headings “Risk Factors” and*“Cautionary Note Regarding Forward-Looking Statements”* in this prospectus.
This prospectus contains references to trademarks, trade names and service marks belonging to other entities. Solely for convenience, trademarks, trade names and service marks referred to in this prospectus may appear without the® or TM symbols, but such references are not intended to indicate, in any way, that the applicable licensor will not assert, to the fullest extent under applicable law, its rights to these trademarks and trade names. We do not intend our use or display of other companies’ trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, any other companies.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.