Clene prices $4 million registered direct offering with insider participation
Clene said the September 15, 2026 raise, backed by its chairman, CEO and other existing holders, is expected to fund operations into mid-first quarter 2027.
Clene Inc. (Nasdaq: CLNN) announced on September 15, 2026 the pricing of a registered direct offering of 1,219,513 shares of common stock at $3.28 per share, generating total gross proceeds of $4 million.1
The purchasers were existing shareholders rather than new outside investors. According to the company, the buyers included Chairman of the Board David Matlin, founding investor Kensington Capital Holdings, Clene's Chief Executive Officer, and other existing shareholders.1 The accompanying 8-K described the transaction as a securities purchase agreement entered into with certain existing stockholders, including certain of the Company's directors and officers, under which the Company agreed to issue and sell an aggregate of 1,219,513 shares of common stock at an offering price of $3.28 per share.1
The deal has no intermediary. The offering is being made without a placement agent, underwriter, broker or dealer.1 Closing is set for September 17, 2026, as the offering is expected to close on September 17, 2026.1
On use of proceeds, Clene said it intends to use the proceeds, together with its existing cash, for expenses primarily related to general corporate purposes, including to fund the effort supporting the continued regulatory dialogue and preparation of regulatory filings for CNM-Au8, including expanded access protocols, potential future commercialization efforts and manufacturing expansion.1 The 8-K's Item 1.01 disclosure added that the proceeds would also support a new drug application for CNM-Au8, its lead candidate.
Clene projected the funds would sustain the company for a specific window: the offering is expected to provide Clene with sufficient cash to fund its operations through mid-first quarter 2027.1
The shares were offered under an existing shelf registration. The offering was made pursuant to the Company's registration statement on Form S-3, file number 333-286058, filed with the SEC on March 24, 2025 and declared effective on April 25, 2025, with a related prospectus supplement filed September 16, 2026.1
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