Celularity, headquartered in Florham Park, New Jersey, operates under the leadership of Chairman and CEO Robert J. Hariri, M.D., Ph.D. The company, which was previously known as GX Acquisition Corp., is incorporated in Delaware and has its fiscal year-end on December 31. With a market capitalization of $56.21 million and trailing twelve-month revenue of $48.2 million, the company has shown strong momentum with a 20.19% year-to-date return.
This information is based on a press release statement and the details of the transaction were filed with the Securities and Exchange Commission in a Form 8-K on Monday, January 27, 2025.
The 2020 Warrant, which allows for the purchase of 652,981 shares of Class A common stock, is registered under the company’s Registration Statement on Form S-1, effective as of August 12, 2021. However, the shares of Class A common stock issuable upon the exercise of the 2024 Warrant, which accounts for 535,274 shares, have not been registered.
This strategic move is intended to strengthen the company's financial position by capitalizing on existing securities and providing immediate funding. The additional capital is expected to support Celularity's ongoing projects and operational needs.
Celularity, headquartered in Florham Park, New Jersey, operates under the leadership of Chairman and CEO Robert J. Hariri, M.D., Ph.D. The company, which was previously known as GX Acquisition Corp., is incorporated in Delaware and has its fiscal year-end on December 31.
This information is based on a press release statement and the details of the transaction were filed with the Securities and Exchange Commission in a Form 8-K on Monday, January 27, 2025.
In other recent news, Celularity Inc. has faced several significant developments.
The company recently terminated a material agreement with an institutional investor, originally intended to provide fresh capital through the sale of over 1.2 million shares of Class A common stock. This termination has led to Celularity exploring alternative funding options.
In the realm of financial performance, Celularity reported over $24 million in net revenue from biomaterial products in the first half of 2024 and expects more than $9 million in net revenue from the recently acquired Rebound product. However, the company is currently facing potential Nasdaq delisting due to late financial reporting, and is working towards regaining compliance.
In board-related news, Robert J. Hariri, M.D., Ph.D., has been elected as a Class III Director to the company's Board of Directors. Additionally, EisnerAmper LLP was ratified as Celularity's independent registered public accounting firm for the fiscal year ending December 31, 2024.
Lastly, several products, including Celularity Tendon Wrap, FUSE Bone Void Filler, and Celularity Placental Matrix, are currently undergoing preliminary FDA assessments.
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