- Athersys ( NASDAQ: ATHX ) shares gained 2% pre-market on Monday after the biotechnology firm announced a $12M securities offering .
- The company entered into a definitive agreement with a single healthcare-focused U.S. institutional investor for the purchase and sale of 48M shares of its common stock and warrants to purchase up to 48M shares at a purchase price per share of $0.25.
- The warrants will have an exercise price of $0.2554/share, will be initially exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.
- Gross proceeds are estimated to be ~$12M; net proceeds will be used for general corporate purposes.
- The offering is expected to close on August 17, 2022.
For further details see:
Athersys announces $12M securities offering