Offering funds clinical trials, product development, research, sales
By Marisa Wong
Morgantown, W.Va., Aug. 27 – Cytori Therapeutics, Inc. priced a $4.89 million public sale of units, according to a prospectus filed Thursday with the Securities and Exchange Commission.
The company will sell 14,999,993 units of one common share and one warrant at $0.3263 per unit, with each five-year warrant exercisable at $0.401. The strike price is a 23% premium to the Aug. 26 closing share price of $0.326.
Mizuho Securities USA Inc. is the lead agent. Roth Capital Partners LLC, Maxim Group LLC and WBB Securities LLC are also agents.
This will be the second closing of the company’s units. As previously reported, the company entered into an agreement in May to sell up to $25 million of units in two tranches. The first tranche, totaling $19.36 million, settled on May 8.
Proceeds will be used for general corporate purposes, including clinical trials, product development, research, sales and marketing, debt repayment or refinancing, general administrative expenses, working capital and capital expenditures.
San Diego-based Cytori develops cell-based regenerative therapies.
| Issuer: | Cytori Therapeutics, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $4,894,498
|
| Units: | 14,999,993
|
| Price: | $0.3263
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.401
|
| Agents: | Mizuho Securities USA Inc. (lead), Roth Capital Partners LLC, Maxim Group LLC and WBB Securities LLC
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 27
|
| Stock symbol: | Nasdaq: CYTX
|
| Stock price: | $0.326 at close Aug. 26
|
| Market capitalization: | $49.67 million
|
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