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Celsion Corporation Announces $9.83 Million Registered Direct Offering
Date:5/31/2013

LAWRENCEVILLE, N.J., May 31, 2013 /PRNewswire/ -- Celsion Corporation (NASDAQ: CLSN) (the "Company") today announced that it has received commitments from institutional investors to purchase an aggregate of approximately $9.83 million of the Company's common stock in an at-the-market registered direct offering led by a dedicated health care fund.

The Company entered into definitive purchase agreements with these investors pursuant to which the Company agreed to sell an aggregate of 6,264,492 shares of its common stock at a per share price of $1.57.  The shares were priced at-the-market with no discount to the previous day's closing bid price.  In addition, there were no warrants issued as part of this financing transaction.  The closing of the offering is expected to take place on or about June 4, 2013, subject to the satisfaction of customary closing conditions.

The estimated net proceeds to the Company from the offering are expected to be approximately $9.1 million.  With the net proceeds from this offering, the Company projects to have an unaudited cash and investment balance of approximately $50 million.  The Company intends to use the net proceeds from this offering for general corporate purposes.

H.C. Wainwright & Co., LLC  acted as exclusive placement agent in connection with the offering.

A shelf registration statement (File No. 333-183286) relating to the shares issued in the offering has been filed with and declared effective by the Securities and Exchange Commission (the "SEC").  A prospectus supplement relating to the offering will be filed by the Company with the SEC.  Copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at the SEC's website at http://www.sec.gov, from request at H.C. Wainwrig
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SOURCE Celsion Corporation
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