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Athersys, Inc. Announces Private Placement Financing
3/9/2012 8:50:40 AM
CLEVELAND, March 9, 2012 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX), a leader in the emerging field of regenerative medicine, today announced that it has entered into definitive agreements with certain accredited investors in connection with a private placement financing transaction. Upon the closing of the transaction, Athersys will receive gross proceeds of approximately $9.0 million in exchange for the issuance of approximately 4,347,827 shares of Athersys common stock and warrants to purchase approximately 4,347,827 shares of Athersys common stock. The warrants will be exercisable for a period of five years at an exercise price of $2.07 per share. Athersys intends to use the net proceeds of the transaction to support its ongoing business development and clinical efforts, and for general corporate purposes.
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