Clene

Canaccord Genuity Acted as Sole Bookrunner to Clene on its $40 Million Public Offering

Clene Inc. (NASDAQ: CLNN) (along with its subsidiaries, “Clene”) and its wholly owned subsidiary, Clene Nanomedicine, Inc., a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative diseases, today announced the closing of an underwritten public offering of common stock and warrants with certain healthcare-focused institutional investors with total gross proceeds of $40 million and that may provide additional potential capital up to $130.8 million in proceeds through the exercise of warrants with accelerated expiration dates tied to satisfaction of regulatory milestones.

This financing was led by Vivo Capital with participation from SymBiosis, Acuta Capital Partners, AIGH Capital, Serrado Capital LLC and other new biotech investors with support from existing insiders.

This financing is currently expected to enable Clene to have sufficient cash to fund the Company through potential accelerated approval of CNM-Au8 and early commercialization of CNM-Au8, if approved.

Pursuant to the underwritten public offering, Clene issued (i) 50 million shares of its common stock and (ii) two tranches of warrants (each warrant to purchase one share of common stock). The combined offering price to the public of each share of common stock and accompanying warrants was $0.80.

The accompanying warrants are:

• Tranche A warrants with an exercise price of $1.10 per share, which are exercisable until the earlier of 60 days following the Company's public announcement that the filing of a New Drug Application (NDA) for CNM-Au8 has been accepted by the U.S. Food and Drug Administration (FDA) or June 16, 2026; and
• Tranche B warrants with an exercise price of $1.50 per share, which are exercisable until the earlier of 60 days following the Company's public announcement that an NDA for CNM-Au8 has been approved by the FDA or June 16, 2030.

All of the shares of common stock and accompanying warrants were offered by Clene. The shares of common stock and the accompanying warrants were issued separately but could only be purchased together in the offering. Before deducting the underwriting discounts and commissions and other offering expenses, Clene received total gross proceeds of $40 million.

Clene is a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative disease by targeting energetic failure, an underlying cause of many neurological diseases. The company is based in Salt Lake City, Utah, with R&D and manufacturing operations in Maryland.

The Canaccord Genuity team consisted of Eugene Rozelman, Jennifer Pardi, Brian O’Connor, Tara Hartigan, Mike Wright, Esther Lee, Brooke Szczygiel, Calvin Reif, Sean Pritchett, and William Jones.