IRVINE, Calif., June 19, 2019 /PRNewswire/ -- Cryoport, Inc.
(Nasdaq: CYRX) (Nasdaq: CYRXW) ("Cryoport" or the "Company") today
announced that it intends to offer shares of common stock in an
underwritten public offering under an effective shelf registration
statement on file with the Securities and Exchange Commission (the
"SEC"). The offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Cryoport also expects to grant the underwriters a 30-day option to
purchase up to an additional 15% of the shares of common stock
offered in the public offering. All of the shares in the offering
are to be sold by Cryoport.
The Company expects to use the net proceeds from the offering of
the shares for working capital, inventory development, global
infrastructure buildout and facilities expansion, sales and
marketing and, potentially, acquisitions with strategic impact.
Jefferies and SVB Leerink are acting as joint book-running
managers for the offering.
The public offering will be made pursuant to a registration
statement on Form S-3 that was previously filed with and declared
effective by the SEC. A preliminary prospectus supplement and
accompanying base prospectus relating to and describing the terms
of the offering have been filed with the SEC and are available on
the SEC's website located at http://www.sec.gov or may be obtained
from Jefferies, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York,
NY 10022, or by telephone at 877-821-7388 or by email at
Prospectus_Department@Jefferies.com; or SVB Leerink, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at
800-808-7525, ext. 6132 or by email at syndicate@svbleerink.com.
The final terms of the offering will be disclosed in a final
prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Cryoport, Inc.
Cryoport is a global provider of temperature-controlled
logistics solutions for temperature-sensitive life sciences
commodities, serving the biopharmaceutical market with logistics
solutions for biologic materials, such as regenerative medicine,
including immunotherapies, stem cells and CAR T-cells. Cryoport's
solutions are used by points-of-care, CRO's, central laboratories,
pharmaceutical companies, manufacturers, university researchers et
al; as well as the reproductive medicine market, primarily in IVF
and surrogacy; and the animal health market, primarily in the areas
of vaccines and reproduction.
Forward-Looking Statements
Statements in this press release which are not purely
historical, including statements regarding the Company's
intentions, hopes, beliefs, expectations, representations,
projections, plans or predictions of the future, such as: the
Company's expectations regarding the completion of the public
offering, its expectations with respect to granting the
underwriters a 30-day option to purchase additional shares and the
anticipated use of net proceeds from the offering, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. It is important to note
that the Company's actual results could differ materially from
those in any such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not
limited to, risks and uncertainties associated with the effect of
changing economic conditions, trends in the products markets,
variations in the Company's cash flow, market acceptance risks, and
technical development risks. The Company's business could be
affected by a number of other factors, including the risk factors
discussed in the preliminary prospectus supplement relating to the
offering and the documents incorporated by reference therein, which
include the Company's Annual Report on Form 10-K for the year ended
December 31, 2018 filed with the SEC.
The Company cautions investors not to place undue reliance on the
forward-looking statements contained in this press release. The
Company disclaims any obligation, and does not undertake to update
or revise any forward-looking statements in this press
release.
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SOURCE Cryoport, Inc.