Collplant Biotechnologies Ltd (CLGN) News & EventsCLGNCollplant Biotechnologies Ltd

CollPlant Proposes Name Change to OptiPhi Computing

CollPlant announced that its board of directors has approved a proposal to change the company's name to OptiPhi Computing, subject to shareholders approval and completion of the applicable corporate and regulatory procedures. The proposed name reflects the company's focus on computing with light following its acquisition of LightSolver in September. The company intends to submit the proposed name change for approval at an upcoming general meeting of shareholders, scheduled for November 24. In connection with the proposed change, the company also intends to change its Nasdaq trading symbol from (CLGN) to (OPHI), subject to Nasdaq confirmation and completion of the applicable process. Until the changes become effective, the company will continue to operate under the CollPlant Biotechnologies name and trade on Nasdaq under (CLGN). The company plans to announce the effective date of the changes separately.

CollPlant Completes Private Placement of 989,301 Shares

CollPlant Biotechnologies announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 989,301 of the company's ordinary shares and unregistered warrants to purchase up to 1,483,952 ordinary shares in a private placement at a combined purchase price of $3.74 per ordinary share and accompanying warrants. The private placement, which is comprised primarily of the company's existing investors, reflects confidence in CollPlant's expanded strategic vision and its execution capabilities in deep-tech photonic computing. The warrants will have an exercise price of $3.74 per share, will be exercisable immediately upon issuance and will expire five years after the effective date of a registration statement registering the shares issuable upon exercise of the warrants. The private placement is expected to close on or about October 14, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. and Rodman & Renshaw are acting as the exclusive joint placement agents for the private placement.

CollPlant Subsidiary LightSolver Files New Patent Application

CollPlant Biotechnologies subsidiary LightSolver has filed a provisional patent application with the USPTO for an invention that significantly expands the capabilities of its all-optical, laser-based computing platform. The provisional application details a proprietary method for solving a broad class of complex physical and engineering problems. The invention enables the platform to directly address partial differential equations underlying heat transfer, diffusion, electrostatics and fluid-flow phenomena, including those involving complex geometries and boundary conditions. By making these elements part of the solving process, the invention expands the range of complex scientific and engineering simulations that can be addressed by LightSolver's technology.