Cryoport plans to sell 3,409,091 shares, 3,409,091 warrants to public

Shares with five-year warrants sold to prepay $915,000 7% bridge notes

By Devika Patel

Knoxville, Tenn., March 25 – Cryoport, Inc. will sell 3,409,091 common shares with warrants for 3,409,091 shares in a public offering with a $2.25 million 45-day greenshoe for additional shares and warrants, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission. The company has registered up to $34.58 million of stock, which includes shares underlying warrants.

The five-year warrants will be exercisable at 110% of the per-share price.

Aegis Capital Corp. is the bookrunner.

Proceeds will be used for working capital purposes and to prepay the company’s $915,000 7% bridge notes.

Based in Lake Forest, Calif., Cryoport provides packaging for temperature-sensitive biological materials.

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