ThermoGenesis raises $6.67M; shares slump

|By:, SA News Editor

ThermoGenesis (KOOL) has raised $6.67M in a private placement of stocks and warrants with institutional investors.

ThermoGenesis is selling 3.33M shares at $2 each vs the company's close of $2.82 on Friday. The buyers will also receive warrants to purchase up to 1.66M shares at $2.81 each.

The financing comes after ThermoGenesis last week announced positive results from a Phase Ib trial of stem-cell therapy to treat critical limb ischemia.

Shares are -15.6% to $2.38 premarket. (PR)