By Devika Patel
Knoxville, Tenn., May 7 - Cytori Therapeutics, Inc. said it will take in $4.24 million through a non-brokered private placement of units.
The company will sell 1.86 million units of one common share and 1.75 warrants at $2.28 per unit. The warrants will be exercisable at $2.62 for five years.
Settlement is expected May 11.
Proceeds will be used for sales and marketing activities, clinical studies and general working capital.
San Diego-based Cytori develops cell-based regenerative therapies.
| Issuer: | Cytori Therapeutics, Inc.
|
| Issue: | Units of one common share and 1.75 warrants
|
| Amount: | $4,240,800
|
| Units: | 1.86 million
|
| Price: | $2.28
|
| Warrants: | 1.75 warrants per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.62
|
| Agent: | Non-brokered
|
| Pricing date: | May 7
|
| Settlement date: | May 11
|
| Stock symbol: | Nasdaq: CYTX
|
| Stock price: | $2.02 at close May 7
|
| Market capitalization: | $59.2 million
|
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