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)