SAN DIEGO--(BUSINESS WIRE)--Cytori Therapeutics (NASDAQ:CYTX) entered into an equity agreement with Seaside 88, LP (‘Seaside’). Under the terms of the agreement, Seaside has committed to purchase up to 7.15 million Cytori common shares, in a series of closings every two weeks in the amount of 275,000 shares each for a total of up to 26 purchases. Cytori and Seaside expect to close the first sale of 275,000 shares for gross proceeds of $852,000 today. Cytori has the right to discontinue the agreement between the 13th and 14th closings, based on the Company’s assessment of its financing needs at that time.
