Athersys, Inc. Announces $12 Million Registered Direct Offering
August 15 2022 - 8:30AM
Business Wire
Athersys, Inc. (Nasdaq: ATHX) today announced that it has
entered into a definitive agreement with a single
healthcare-focused U.S. institutional investor for the purchase and
sale of 48,000,000 shares of the Company’s common stock (or common
stock equivalents in lieu thereof) and warrants to purchase up to
48,000,000 shares of common stock at a purchase price per share
(and accompanying warrant) of $0.25 in a registered direct
offering. The warrants will have an exercise price of $0.2554 per
share, will be initially exercisable beginning six months following
the date of issuance and will expire five years from the initial
exercise date.
The closing of the registered direct offering is expected to
occur on or about August 17, 2022, subject to the satisfaction of
customary closing conditions. The gross proceeds from the offering
are expected to be approximately $12 million. The Company intends
to use the net proceeds from the offering for general corporate
purposes.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the offering.
The offering of the common stock, common stock equivalents and
warrants is being made pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-235945) previously filed with
the U.S. Securities and Exchange Commission (the “SEC”). A
prospectus supplement describing the terms of the proposed offering
will be filed with the SEC and will be available on the SEC’s
website located at http://www.sec.gov. Electronic copies of the
prospectus supplement may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy 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 Athersys
Athersys is a biotechnology company engaged in the discovery and
development of therapeutic product candidates designed to extend
and enhance the quality of human life. The Company is developing
its MultiStem® cell therapy product, a patented, adult-derived
"off-the-shelf" stem cell product, initially for disease
indications in the neurological, inflammatory and immune and other
critical care indications and has two ongoing clinical trials
evaluating this potential regenerative medicine product. Investors
and others should note that we may post information about the
Company on our website at www.athersys.com and/or on our accounts
on Twitter, Facebook, LinkedIn or other social media platforms. It
is possible that the postings could include information deemed to
be material information. Therefore, we encourage investors, the
media and others interested in the Company to review the
information we post on our website at www.athersys.com and on our
social media accounts. Follow Athersys on Twitter at
www.twitter.com/athersys. Information that we may post about the
Company on our website and/or on our accounts on Twitter, Facebook,
LinkedIn or other social media platforms may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. You should not place undue reliance on
forward-looking statements contained on our website and/or on our
accounts on Twitter, Facebook, LinkedIn or other social media
platforms, and we undertake no obligation to publicly update
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220815005187/en/
Athersys Ellen Gurley Manager of Corporate Communications
and Investor Relations ir@athersys.com
LHA Investor Relations Tirth T. Patel 212-201-6614
tpatel@lhai.com
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