Celularity Inc. closed an initial private placement that generated more than $10 million in gross proceeds through senior secured convertible notes and warrants, forming part of a recapitalization plan involving up to $25 million in new cash and the restructuring of approximately $3 million in existing debt. The company said monthly cash burn has fallen by more than $1 million following personnel and budget changes. Celularity expects positive monthly operating cash flow by the end of the first quarter of 2027, based on anticipated manufacturing revenue, deployment of existing inventory and continued expense controls. Management estimates its existing cenplacel-L inventory has approximately $40 million in potential sales value. Philip A. Barach will join the five-member Board of Directors, subject to applicable requirements, including the Rule 14f-1 information statement process.