Cesca Announces Closing of $5.5 Million Public Offering
May 18 2018 - 11:12AM
Cesca Therapeutics Inc. (NASDAQ:KOOL), a market leader in automated
cell processing and point-of-care, autologous cell-based therapies,
today announced the completion of its previously announced public
offering of 9,166,667 units (the “Units”), with each Unit
consisting of one common share, $0.001 par value (the “Common
Shares”) or Common Share equivalent and one common warrant to
purchase one Common Share (the “Warrants”) for aggregate gross
proceeds of $5.5 million.
The offering was priced at $0.60 per Common
Share (or Common Share equivalent), with each Common Share (or
Common Share equivalent) sold with one five-year warrant to
purchase one Common Share, at an exercise price of $0.60.
Cesca intends to use the net proceeds for
general corporate purposes, including working capital and to pay
accrued but unpaid interest of approximately $657,000 under Cesca’s
revolving line of credit.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering.
The securities were offered and sold pursuant to
a registration statement on Form S-1, as amended (File No.
333-224185), previously filed with the Securities and Exchange
Commission (“SEC”) and declared effective on May 16, 2018. The
securities may only be offered by means of a prospectus forming
part of the effective registration statement. The final prospectus
related to the offering was filed with the SEC on May 17, 2018.
Copies of the final prospectus relating to the offering may be
obtained for free by visiting the SEC's website at www.sec.gov or
from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor,
New York, New York 10022, by email at placements@hcwco.com or by
telephone at 646-975-6996.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Cesca Therapeutics
Inc.
Cesca Therapeutics Inc. (the “Company”)
develops, commercializes and markets a range of automated
technologies for CAR-T and other cell-based therapies. Its device
division, ThermoGenesis
Corp., provides a full suite of
solutions for automated clinical biobanking, point-of-care
applications, and automation for immuno-oncology. The Company is
developing an automated, functionally-closed CAR-TXpress™ platform
to streamline the manufacturing process for the emerging CAR-T
immunotherapy market.
Forward-Looking Statements
Certain statements in this press release are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements may be identified
by the use of words such as “anticipate,” “believe,” “forecast,”
“estimated” and “intend” or other similar terms or expressions that
concern Cesca’s expectations, strategy, plans or intentions. These
forward-looking statements are based on Cesca’s current
expectations and actual results could differ materially. There are
a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, market conditions;
the expected use of the net proceeds from the offering; our need
for additional financing; our ability to continue as a going
concern; uncertainties of government or third party payer
reimbursement; dependence on key personnel; substantial
competition; uncertainties of patent protection and litigation;
dependence upon third parties; regulatory, financial and business
risks related to our international expansion and risks related to
failure to obtain FDA clearances or approvals and noncompliance
with FDA regulations. There are no guarantees that any of our
technology products will be utilized or prove to be commercially
successful. Investors should read the risk factors set forth in
Cesca’s Transition Report on Form 10-K for the year ended December
31, 2017 and Annual Report on Form 10-K for the year ended June 30,
2017, and other periodic reports filed with the Securities and
Exchange Commission. While the list of factors presented here
is considered representative, no such list should be considered to
be a complete statement of all potential risks and uncertainties.
Unlisted factors may present significant additional obstacles to
the realization of forward-looking statements. Forward-looking
statements included herein are made as of the date hereof, and
Cesca does not undertake any obligation to update publicly such
statements to reflect subsequent events or circumstances.
Company Contact: Cesca Therapeutics Inc.
Wendy Samford 916-858-5191 ir@cescatherapeutics.com
Investor Contact: Rx Communications Paula
Schwartz 917-322-2216 pschwartz@rxir.com
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