HOLLISTON, Mass.--(BUSINESS WIRE)--Harvard Apparatus Regenerative Technology, Inc. (NASDAQ: HART), a clinical stage biotechnology company developing regenerated organs for transplant, initially focused on the trachea, today announced the pricing of its previously announced underwritten public offering. HART is offering 1,800,000 registered shares of its common stock at a price to the public of $1.75 per share, and 695,857 registered shares of its Series B Convertible Preferred Stock (“Series B”) at a price to the public of $8.75 per share, for expected gross proceeds of approximately $9.2 million. At the option of the investor, the Series B is convertible into five shares of common stock of the Company, and will vote with the common stock on all matters on an as converted basis. The Series B has no preference to the common shares in respect of dividends, voting, liquidation or otherwise. In connection with the offering, HART has also granted the underwriter a 30-day option to purchase up to an additional 270,000 shares of common stock offered in the public offering to cover over-allotments, if any. HART intends to use the net proceeds from the offering primarily for research and development, including funding pre-clinical and clinical trials relating to the HART-Trachea, business development, sales and marketing, capital expenditures, working capital and other general corporate purposes.
Hey, check out all the engineering jobs. Post your resume today!
Hey, check out all the engineering jobs. Post your resume today!
