05:10 PM EDT, 03/11/2026 (MT Newswires) -- Longeveron ( LGVN ) said late Wednesday it closed a $15 million initial tranche of a private placement that could reach $30 million if certain clinical and share-price milestones are achieved.

The company said it issued class A common stock and convertible preferred shares at a price of $0.52 per share in the initial closing.

Longeveron ( LGVN ) said the proceeds should fund operations into Q4 2026, beyond the expected Q3 2026 topline data from the Phase 2b ELPIS II laromestrocel trial in Hypoplastic Left Heart Syndrome.

The company shares fell 6.4% in after-hours trading.