RANCHO CORDOVA, Calif., March 26, 2018 (GLOBE NEWSWIRE) — Cesca Therapeutics Inc. (Nasdaq:KOOL), a market leader in automated cell processing and point-of-care, autologous cell-based therapies, announced that it has entered into definitive purchase agreements with certain institutional investors to sell in a registered direct offering 609,636 shares of its common stock at a purchase price of $2.27 per share. Additionally, the investors will receive unregistered warrants to purchase up to 304,818 shares of common stock. The warrants have an exercise price of $2.68 per share and shall be exercisable commencing six months following the issuance date of the warrants and will expire 5.5 years from the issuance date.
The gross proceeds of this offering are expected to be approximately $1.38 million, before deducting placement agent's fee and offering expenses. The closing of the offering is expected to occur on or about March 28, 2018, subject to the satisfaction of customary closing conditions.
The shares described above (but not the warrants or the shares underlying the warrants) are being offered pursuant to a “shelf” registration statement (File No. 333-212314) which became effective on August 1, 2016.Such shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
A prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered will be filed with the Securities and Exchange Commission (SEC). When available, copies of the prospectus supplement and the accompanying base prospectus may be obtained at the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by telephone at (646) 975-6996 or by email at [email protected]
The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and, along with the shares of common stock issuable upon their exercise, have not been registered under the Act, and may not be offered or sold in the United States absent registration with the sec or an applicable exemption from such registration requirements.
