RenovaCare Closes Registered Direct Offering and Concurrent Private Placement

10/17/17

NEW YORK & PITTSBURGH & BERLIN--(BUSINESS WIRE)--RenovaCare, Inc., (OTCQB:RCAR), developer of the SkinGun™ and CellMist™ System for isolating and spraying a patient’s own stem cells onto burns and wounds for rapid self-healing, today announced that it has entered into definitive agreements with investors to purchase an aggregate of approximately 915,000 shares of common stock in a registered direct offering and common stock purchase warrants in a concurrent private placement.

The offerings are expected to yield total gross proceeds of approximately $2.3 million before deducting estimated offering expenses. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes. The closing of the offerings took place on October 16, 2017, subject to the satisfaction of customary closing conditions. The offerings were conducted directly by the Company without the assistance of placement agents.

About RenovaCare

RenovaCare, Inc. is developing first-of-its-kind autologous (self-donated) stem cell therapies for the regeneration of human organs. Its initial product under development targets the body’s largest organ, the skin. The company’s flagship technology, the CellMist™ System, uses its patented SkinGun™ to spray a liquid suspension of a patient’s stem cells – the CellMist™ Solution – onto wounds. RenovaCare is developing its CellMist™ System as a promising new alternative for patients suffering from burns, chronic and acute wounds, and scars. In the US alone, this $45 billion market is greater than the spending on high-blood pressure management, cholesterol treatments, and back pain therapeutics.

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