Pluristem Therapeutics Inc. Announces $30 Million Registered Direct Offering
February 02 2021 - 8:30AM
Pluristem Therapeutics Inc. (Nasdaq:PSTI)
(TASE:PSTI), a leading regenerative medicine company
developing a platform of novel biological therapeutic products
(“Pluristem” or the “Company”), today announced it has entered
into definitive agreements with institutional investors for the
purchase and sale of 4,761,905 shares of its common stock at a
purchase price of $6.30 per share in a registered direct offering,
for gross proceeds of $30 million before deducting placement agent
fees and expenses. The closing of the offering is expected to occur
on or about February 4, 2021, subject to the satisfaction of
customary closing conditions.
A.G.P./Alliance Global Partners is acting as
sole placement agent for the offering. This offering is
being made pursuant to an effective shelf registration statement on
Form S-3 (File No. 333-239890) previously filed with the U.S.
Securities and Exchange Commission (the “SEC”), under the
Securities Act of 1933, as amended. 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. Before investing in this offering,
interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that the Company has filed with the SEC that are incorporated by
reference in such prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
such offering.
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 PluristemPluristem
Therapeutics Inc. is a leading regenerative medicine company
developing novel placenta-based cell therapy product candidates.
The Company has reported robust clinical trial data in multiple
indications for its patented PLX cell product candidates and is
currently conducting late-stage clinical trials in several
indications. PLX cell product candidates are believed to release a
range of therapeutic proteins in response to inflammation, muscle
trauma, hematological disorders and radiation damage. The cells are
grown using the Company's proprietary three-dimensional expansion
technology and can be administered to patients off-the-shelf,
without tissue matching. Pluristem has a strong intellectual
property position; a Company-owned and operated GMP-certified
manufacturing and research facility; strategic relationships with
major research institutions; and a seasoned management team.
Forward-Looking StatementsThis
press release contains express or implied forward-looking
statements within the Private Securities Litigation Reform Act of
1995 and other U.S. Federal securities laws. For example, Pluristem
is using forward-looking statements when it discusses the expected
closing of the offering. These forward-looking statements and their
implications are based on the current expectations of the
management of Pluristem only, and are subject to a number of
factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
The following factors, among others, could cause actual results to
differ materially from those described in the forward-looking
statements: changes in technology and market requirements;
Pluristem may encounter delays or obstacles in launching and/or
successfully completing its clinical trials; Pluristem’s products
may not be approved by regulatory agencies, Pluristem’s technology
may not be validated as it progresses further and its methods may
not be accepted by the scientific community; Pluristem may be
unable to retain or attract key employees whose knowledge is
essential to the development of its products; unforeseen scientific
difficulties may develop with Pluristem’s process; Pluristem’s
products may wind up being more expensive than it anticipates;
results in the laboratory may not translate to equally good results
in real clinical settings; results of preclinical studies may not
correlate with the results of human clinical trials; Pluristem’s
patents may not be sufficient; Pluristem’s products may harm
recipients; changes in legislation may adversely impact Pluristem;
inability to timely develop and introduce new technologies,
products and applications; loss of market share and pressure on
pricing resulting from competition, which could cause the actual
results or performance of Pluristem to differ materially from those
contemplated in such forward-looking statements. Except as
otherwise required by law, Pluristem undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. For a more detailed
description of the risks and uncertainties affecting Pluristem,
reference is made to Pluristem's reports filed from time to time
with the Securities and Exchange Commission.
Pluristem Investor Contact
Dana RubinDirector of Investor
Relations972-74-7107194danar@pluristem.com
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