Pharmiweb ChannelsAll | PharmaCo | Clinical Research | R&D/BioTech | Sales/Mktg | Healthcare | Recruitment | Pharmacy | Medical Comms

Pharmiweb.com RSS Feed Pharmiweb.com RSS Feeds

Advertising

Press Release

Cytori Closes Rights Offering for Gross Proceeds of $10 Million


Posted on: 28 Nov 17

SAN DIEGO, Nov. 28, 2017 (GLOBE NEWSWIRE) -- Cytori Therapeutics, Inc. (“Cytori”) (NASDAQ:CYTX) announced today the closing of its rights offering (the “Rights Offering”) to subscribe for units at a subscription price of $1,000 per unit.

Pursuant to the Rights Offering, Cytori sold an aggregate of 10,000 units consisting of an aggregate of 10,000 shares of Series B Preferred Stock and 18,000,000 warrants, with each warrant exercisable for one share of common stock at an exercise price of $0.3333 per share, resulting in gross proceeds to Cytori of $10.0 million, after deducting expenses relating to the Rights Offering, including dealer-manager fees and expenses, and excluding any proceeds received upon exercise of any warrants.  The warrants will be exercisable upon stockholder approval to increase our authorized shares of common stock.

Maxim Group LLC acted as dealer-manager for the Rights Offering. Laidlaw & Company (UK) Ltd. acted as financial advisor to Cytori in connection with the Rights Offering.

If you have questions about the Rights Offering, please contact Broadridge Corporate Issuer Solutions, Cytori's information agent for the Rights Offering, by calling (855) 793-5068 (toll-free); or Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention Syndicate Department, email: syndicate@maximgrp.com or telephone (212) 895-3745.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cytori’s registration statement on Form S-1 was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on November 2, 2017. The prospectus, the prospectus supplement no. 1 thereto dated November 14, 2017, and all of Cytori’s SEC filings may be found in the Investor Relations section of Cytori's website at ir.cytori.com.

About Cytori

Cytori is a late stage cell therapy company developing autologous cell therapies from adipose tissue to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy acts principally by improving blood flow, modulating the immune system, and facilitating wound repair.  As a result, Cytori Cell Therapy may provide benefits across multiple disease states and can be made available to the physician and patient at the point-of-care through Cytori’s proprietary technologies and products. For more information visit www.cytori.com.

Cytori Therapeutics, Inc.

Tiago Girao, +1 (858) 458.0900
ir@cytori.com

GlobeNewswire
globenewswire.com

Last updated on: 29/11/2017

Advertising
Site Map | Privacy & Security | Cookies | Terms and Conditions

PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.