MARLBOROUGH, Mass.--(BUSINESS WIRE)--Ocata Therapeutics, Inc. (NASDAQ:OCAT), a clinical stage biotechnology company focused on the development and commercialization of Regenerative Ophthalmology™, today announced the pricing of an underwritten offering of 5,500,000 shares of its common stock together with accompanying warrants to purchase an aggregate of 2,750,000 shares of common stock. The combined offering price of each share of common stock and accompanying warrant was $5.50. The gross proceeds to Ocata Therapeutics from this offering are expected to be $30.25 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Ocata Therapeutics. The warrants will be exercisable at $7.48 per share, will be exercisable beginning on December 22, 2015 and will expire on December 22, 2020. The shares of common stock and warrants are immediately separable and will be issued separately. Ocata Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock and/or warrants to purchase 412,500 shares of common stock to cover over-allotments, if any. Ocata Therapeutics intends to use the net proceeds from the sale of the offered securities to fund its clinical activities, including the commencement of its Phase 2 AMD and pivotal SMD clinical trials, the advancement of its pre-clinical studies in other ocular indications and other programs, and for general corporate purposes, which may include, but are not limited to, working capital, potential business development activities, ongoing research and development activities, funding regulatory approval application processes, and capital expenditures.
Help employers find you! Check out all the jobs and post your resume.
