Clene raises over $28 million in registered direct offering

Clene Inc. (NASDAQ: CLNN) announced a registered direct offering that raised over $28 million from new and existing investors, including Boxer Capital Management, Coastlands Capital, and Vivo Capital.

The financing structure includes three tranches. The initial tranche of over $6 million involves the sale of 928,333 shares of common stock with accompanying warrants at $6.50 per unit, providing gross proceeds of $6.03 million. The company expects this funding to sustain operations into the third quarter of 2026.

Two additional tranches totaling over $22 million are contingent on FDA decisions regarding the company's New Drug Application for CNM-Au8 in treating amyotrophic lateral sclerosis. Series A Warrants could generate approximately $6.7 million in gross proceeds, with an initial exercise price of $6.00 per share that may increase based on timing and stock performance. Series B Warrants could produce approximately $15.6 million, also with a $6.00 initial exercise price subject to adjustments.

The warrants include redemption provisions that allow the company to call them for cancellation under certain stock price conditions. Series A Warrants expire three years from issuance, while Series B Warrants expire after five years.

BTIG LLC serves as the sole placement agent for the offering, which is expected to close around January 12, 2026. The securities are being offered under a previously filed shelf registration statement with the Securities and Exchange Commission.

Clene is a late-stage biopharmaceutical company developing treatments for neurodegenerative diseases. The company plans to submit a New Drug Application for CNM-Au8 in ALS treatment in 2026, according to the press release.

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