LAWRENCEVILLE, N.J., July 06, 2017 (GLOBE NEWSWIRE) -- Celsion Corporation (NASDAQ:CLSN) today announced that it has entered into definitive agreements with several institutional investors to purchase an aggregate of approximately $5 million of shares of common stock, or pre-funded warrants in lieu thereof, in a registered direct offering.

The Company agreed to sell an aggregate of approximately 2.435 million shares of common stock, or pre-funded warrants in lieu thereof, at a price of $2.07 per common share or warrant share, respectively, in the registered direct offering. Additionally, the investors will receive, for each share of common stock or pre-funded warrant purchased in the registered direct offering, a Series AAA warrant to purchase one (1) share of common stock and a Series BBB warrant to purchase one (1) share of common stock. The Series AAA warrants have an exercise price of $2.07 per share, are initially exercisable six months following issuance, and terminate five and one-half years following issuance. The Series BBB warrants have an exercise price of $4.75 per share, are immediately exercisable, and terminate one year following issuance. The closing of this offering is expected to take place on or about July 11, 2017, subject to the satisfaction of customary closing conditions.

Oppenheimer & Co. Inc. is acting as the sole placement agent in connection with this offering.