Celsion Corporation (NASDAQ:CLSN) today announced that it has entered into a definitive agreement with a single healthcare dedicated institutional investor to purchase an aggregate of approximately $6 million of shares of common stock, or pre-funded warrants in lieu thereof, in a registered direct offering.

The Company agreed to sell an aggregate of approximately 4.4 million shares of common stock, or pre-funded warrants in lieu thereof, at a price of$1.36 per common share or warrant share, respectively, in the registered direct offering. Additionally, the investors will receive, for each share of common stock or pre-funded warrant purchased in the registered direct offering, a Series A warrant to purchase 0.5 share of common stock, a Series C warrant to purchase one share of common stock and a Series D warrant to purchase 0.5 share of common stock. The Series A warrants have an exercise price of $1.40 per share, are initially exercisable six months following issuance, and terminate five and one-half years following issuance, the Series C warrants have an exercise price of $1.40 per share, are initially exercisable six months following issuance, and terminate one year following issuance, and the Series D warrants only become exercisable ratably upon the exercise of the Series C warrants, have an exercise price of $1.40 per share, are initially exercisable six months following issuance, and terminate five and one-half years following issuance. The closing of this offering is expected to take place on or about June 16, 2016, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as exclusive placement agent in connection with this offering.