Clinical Trials Research
Cytori Therapeutics to Raise $21.5 Million in Registered Direct Offering
Published in Medical Verdicts and Law Weekly, March 15th, 2007
Cytori Therapeutics, Inc. (NASDAQ:CYTX) (FWB:XMPA) entered into definitive agreements to raise $21.5 million, before placement agent fees and offering expenses. At closing, Cytori will issue 3.75 million shares of common stock at $5.74 per share with 50% warrant coverage, which represents up to an additional 1.87 million shares of common stock. The warrants have a five year term and are immediately exercisable at an exercise price of $6.25 per share.
The funds will be used for clinical trials of Cytori's Celution(TM) System for cardiovascular disease and breast reconstruction post lumpectomy, preclinical research and development, to support preparations to commercialize...
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