Entering text into the input field will update the search result below

Cytori enters stock purchase agreement with Lincoln Park Capital

Dec. 29, 2016 5:01 PM ETPlus Therapeutics, Inc. (PSTV) StockPSTVBy: Eli Hoffmann, SA News Editor
  • Cytori Therapeutics (CYTX) enters into a common stock purchase agreement with Lincoln Park Capital Fund (“LPC”), a Chicago-based institutional investor and existing stockholder in the Company.
  • According to the terms of the agreements Cytori will have the right at its sole discretion to sell to LPC up to $20M worth of shares over a 30-month period.  Cytori will control the timing of any future investment and LPC will be obligated to make purchases in accordance with the agreements.
  • Cytori expects to use the proceeds for working capital and general corporate purposes.
  • “We anticipate that the forthcoming new year will bring a number of important milestones for Cytori,” said Marc H. Hedrick, M.D., Cytori’s President and CEO. “This $20M financing facility will help provide additional financial flexibility to Cytori in its efforts to move forward with these key milestones for its stockholders.”
  • In exchange, CYTX issues shares of common stock to LPC as a commitment fee and will issue additional shares of common stock on a pro-rata basis only when and if shares are sold to LPC.
  • A more detailed description of the Agreements is set forth in Cytori’s Current Report on Form 8-K
  • CYTX closed +2.2% at $1.39.
  • Source: Press Release

Recommended For You

More Trending News

About PSTV Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
PSTV--
Plus Therapeutics, Inc.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.