News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

BrainStorm Cell Therapeutics Inc. Announces Exchange Of Outstanding Warrants


4/28/2014 10:02:51 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

NEW YORK, NY and PETACH TIKVAH, ISRAEL--(Marketwired - April 25, 2014) - BrainStorm Cell Therapeutics (OTCQB: BCLI) announced today that it has entered into agreements with holders of warrants originally issued in the Company's August 16, 2013 public offering, to exchange outstanding warrants to purchase an aggregate of 11,662,059 shares of Company Common Stock, $0.00005 par value, and issue to the holders an aggregate of 5,831,031 shares of unregistered Common Stock. Each share of Common Stock issuable pursuant to the August 16, 2013 warrants was exchanged and the holder received shares of unregistered Common Stock equal to one-half (0.5) of its number of warrant shares, rounded up to the nearest whole share. All exchanged warrants were cancelled and of no further force and effect. The purpose of the exchange is to facilitate the Company's plans to uplist its stock to a national securities exchange such as NASDAQ.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall the Common Stock issued in the exchange be offered or sold absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws.

About BrainStorm Cell Therapeutics, Inc.
BrainStorm Cell Therapeutics Inc. is a biotechnology company engaged in the development of first-of-its-kind adult stem cell therapies derived from autologous bone marrow cells for the treatment of neurodegenerative diseases. The Company holds the rights to develop and commercialize its NurOwn technology through an exclusive, worldwide licensing agreement with Ramot, the technology transfer company of Tel Aviv University. For more information, visit the Company's website at www.brainstorm-cell.com.

Safe Harbor Statement
Statements in this announcement other than historical data and information constitute "forward-looking statements" and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc.'s actual results to differ materially from those stated or implied by such forward-looking statements. Terms and phrases such as "may", "should", "would", "could", "will", "expect", "likely", "believe", "plan", "estimate", "predict", "potential", and similar terms and phrases are intended to identify these forward-looking statements. The potential risks and uncertainties include, without limitation, risks associated with BrainStorm's limited operating history, history of losses; minimal working capital, dependence on its license to Ramot's technology; ability to adequately protect the technology; dependence on key executives and on its scientific consultants; ability to obtain required regulatory approvals; and other factors detailed in BrainStorm's annual report on Form 10-K and quarterly reports on Form 10-Q available at http://www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on BrainStorm's forward-looking statements. The forward-looking statements contained in this press release are based on the beliefs, expectations and opinions of management as of the date of this press release. We do not assume any obligation to update forward-looking statements to reflect actual results or assumptions if circumstances or management's beliefs, expectations or opinions should change, unless otherwise required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.


Contacts
BrainStorm Cell Therapeutics Inc. (OTCQB: BCLI)
Mr. Chaim Lebovits
President
Phone: +972-3-9236384
info@brainstorm-cell.com

US Investor Contact:
LifeSci Advisors, LLC
Michael Rice
646-597-6979
mrice@lifesciadvisors.com

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES