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Cytori registers $11 million of stock for rights offering of units
Maxim, Broadridge sell units of shares, warrants with oversubscription
By Devika Patel
Knoxville, Tenn., April 6 – Cytori Therapeutics, Inc. will price a best-efforts rights offering of units with an oversubscription privilege, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission. The company has registered up to $11 million of underlying stock for the deal.
The units will consist of common shares and warrants.
Maxim Group LLC is the dealer-manager and Broadridge Corporate Issuer Solutions, Inc. is the agent.
Proceeds will be used research and development, including clinical trials and development of the company’s Celution System products, and for general corporate purposes, including sales and marketing, potential commercialization of ECCS-50 in Europe, general administrative expenses, working capital and capital expenditures.
San Diego-based Cytori develops cell-based regenerative therapies.
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