02:51 PM EDT, 05/30/2025 (MT Newswires) -- CollPlant Biotechnologies ( CLGN ) said Friday that it has launched a direct offering of about 1.2 million shares at $3 per share.

The company said it will also issue warrants to purchase up to some 1.2 million shares at an exercise price of $3 per share in a concurrent private placement.

CollPlant said it plans to use the proceeds for general corporate purposes. It expects to close the offering on June 2, with H.C. Wainwright as the placement agent.

Shares of the company were down over 30% in recent trading.

Price: 3.14, Change: -1.40, Percent Change: -30.84