Athersys, Inc. (Nasdaq:ATHX), a leader in the emerging field of regenerative medicine, today announced that it has entered into definitive agreements with certain accredited investors in connection with a private placement financing transaction. Upon the closing of the transaction, Athersys will receive gross proceeds of approximately $9.0 million in exchange for the issuance of approximately 4,347,827 shares of Athersys common stock and warrants to purchase approximately 4,347,827 shares of Athersys common stock. The warrants will be exercisable for a period of five years at an exercise price of $2.07 per share. Athersys intends to use the net proceeds of the transaction to support its ongoing business development and clinical efforts, and for general corporate purposes.
Piper Jaffray & Co. acted as sole lead placement agent for the offering, William Blair & Company and First Analysis Securities Corporation acted as co-placement agents and WBB Securities, LLC acted as financial advisor.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
