Capricor Therapeutics (CAPR) Prices 3M Common Stock Offering for Proceeds of ~$8.7M

September 16, 2016 9:01 AM EDT

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Capricor Therapeutics, Inc. (Nasdaq: CAPR) announced the pricing of its offerings of 3,000,000 shares of its common stock at an offering price of $3.20 per share, before underwriting discounts. 2,687,500 shares of Capricor's common stock will be purchased by the underwriters in an underwritten registered public offering and 312,500 shares will be purchased by Cedars-Sinai Medical Center, a stockholder of Capricor, from Capricor directly and not through the underwriters in a concurrent registered direct offering. Capricor has granted the underwriters a 30-day option to purchase up to an additional 403,125 shares of its common stock. The proceeds to Capricor from the offerings are expected to be approximately $8.7 million after deducting underwriting discounts and commissions and other estimated offering expenses but excluding any exercise of the underwriters' option. All shares of common stock to be sold in the offerings are being offered by Capricor. The offerings are expected to close on or about September 21, 2016, subject to customary closing conditions.

Roth Capital Partners and National Securities Corporation, a wholly-owned subsidiary of National Holdings, Inc., are acting as joint book-running managers for the registered public offering.

The securities described above are being offered by Capricor pursuant to a shelf registration statement on Form S-3 (File No. 333-207149) previously filed with the Securities and Exchange Commission (the "SEC") on September 28, 2015 and declared effective by the SEC on October 26, 2015. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement related to the underwritten registered public offering was filed with the SEC on September 15, 2016 and is available on the SEC's website at, and a final prospectus supplement related to each of the offerings will be filed with the SEC and will be available on the SEC's website. When available, copies of the final prospectus supplement and the accompanying prospectus for the securities being offered in the underwritten registered public offering may also be obtained from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147, and National Securities Corporation, 410 Park Avenue, 14th Floor, New York, NY 10022, (212) 417-8164.

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