• News
  • Finance

Cytori to raise $10M in direct offering

Cytori Therapeutics Inc. (Nasdaq: CYTX) entered into subscription agreements with certain institutional investors to raise approximately $10 million, before placement agent fees and offering expenses.

At closing, Cytori will issue and sell 4,048,584 units to select investors, with each unit consisting of one share of the company's common stock and one warrant to purchase one share of the company’s common stock at a purchase price of $2.47 per unit. The warrants, which will represent the right to acquire up to an additional 4,048,584 shares of common stock, will be exercisable immediately upon issuance at an exercise price of $3 per share, and will expire five years after the date of issuance.

Cytori intends to use the proceeds for general corporate purposes, including the continued development, manufacture, marketing and sale of the Celution System family of products.

WBB Securities LLC acted as placement agent for the offering. The transaction is expected to close on or about June 4, subject to the satisfaction of customary closing conditions.

User Response
0 UserComments

Cytori Therapeutics

Company Website

3020 Callan Road
San Diego, CA 92121