Athersys Announces Closing of Public Offering of Common Stock
Athersys, Inc. (ATHX)
Last athersys, inc. earnings: 11/6 04:05 pm
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athersys.com/press-releases
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Source: Business Wire
CLEVELAND--(BUSINESS WIRE)--Athersys, Inc. (NASDAQ: ATHX) (Athersys) today announced the closing of its previously announced underwritten public offering of 25,587,500 shares of its common stock, par value $0.001 per share (Common Stock), at a price to the public of $2.25 per share, which includes 3,337,500 shares of Common Stock pursuant to the underwriters’ option to purchase additional shares, which the underwriters exercised in full on April 16, 2020. Gross proceeds to Athersys from the offering are approximately $57.6 million, before deducting the underwriting discount and estimated offering expenses.BofA Securities acted as sole book-running manager for the offering. Needham & Company, SMBC and WBB Securities acted as co-managers for the offering.Athersys intends to use the net proceeds from the offering for working capital and general corporate purposes, including funding towards its acute respiratory distress syndrome (ARDS) clinical program, which includes initiation of a
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