CLEVELAND, Jan. 28, 2011 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX) announced today that it has entered into definitive agreements with certain investors to sell 4,366,667 shares of its common stock and warrants to purchase up to an additional 1,310,000 shares of common stock in a registered direct offering for gross proceeds of approximately $13.1 million, before deducting fees and offering expenses. The common stock and warrants will be sold in multiples of a fixed combination consisting of (1) one share of common stock and (2) a warrant to purchase 0.3 of a share of common stock at an exercise price of $3.55 per share of common stock. The investors have agreed to purchase the fixed combination for a price of $3.00. The warrants are exercisable beginning on the date of closing of this offering and will expire five (5) years from the date of issuance. William Blair & Company, L.L.C. and First Analysis Securities Corporation acted as co-lead placement agents for the offering.
