Emergent Financial Group assists in financing working capital needs
By Devika Patel
Knoxville, Tenn., Feb. 7 - CryoPort, Inc. settled a private placement of units on Feb. 4, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal raised $4.43 million; Emergent Financial Group, Inc. was the agent.
The company sold 6,335,318 units of one common share and one warrant at $0.70 per unit.
The warrants are exercisable at $0.77 for five years. The strike price is an 18.95% discount to the Feb. 3 closing share price of $0.95.
Proceeds will be used for working capital.
Based in Lake Forest, Calif., CryoPort provides packaging for temperature-sensitive biological materials.
| Issuer: | CryoPort, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $4,434,723
|
| Units: | 6,335,318
|
| Price: | $0.70
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.77
|
| Agent: | Emergent Financial Group, Inc.
|
| Settlement date: | Feb. 4
|
| Stock symbol: | OTCBB: CYRX
|
| Stock price: | $0.95 at close Feb. 4
|
| Market capitalization: | $12.59 million
|
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