Celularity Inc. announced that it has entered into separate subscription agreements with existing stockholders or their affiliates including Starr International Company, Inc., Sorrento Therapeutics, Inc., Dragasac Limited, as well as unaffiliated institutional investors for a private placement of 8,340,000 Class A Common Stock at a price of $10 per share for gross proceeds of $83,400,000 on January 8, 2021. The closing of the transaction is expected to occur substantially concurrently with the closing and is conditioned upon, among other customary closing conditions, the consummation of the Business Combination which is expected to be completed during the second quarter of 2021 and certain applicable regulatory approvals.