Public Offering of Common Stock closes with Full Exercise of Overallotment Option Raises $19.3M, Cytori Therapeutics (CYTX)
CYTX closed (10/13/10) its public offering of 4.6 M shares of its common stock, which includes 600,000 shares sold pursuant to the full exercise of an overallotment option previously granted to the underwriter for a total offering of 4.6 M shares of common stock.
Net proceeds from the sale of the shares, after underwriting discounts and commissions and other offering expenses are approximately $19.3 M with green shoe with NO warrants.
- CYTX anticipates using the net proceeds from the offering for general corporate purposes, including sales and marketing activities, clinical studies, R&D, capital expenditures, future acquisitions, working capital and repayment of debt;
- CYTX based on cash utilization has enough cash until 2012 without considering on-going sales potential;
- The stock is trading UP mid-day from the offering pricing of $4.50 to $4.80;
- Total cash is approximately is $55 M.
Categories: Public Offering Completed, Stem Cell Technology
